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Finance

China Overseas Land & Investment Ltd.

Company Background

China Overseas Land & Investment is a major state-owned real estate company that mainly develops, markets and administers condominiums and other properties in mainland China under the name of China Overseas Property . It is a core unit of China State Construction Engineering. China Overseas Land & Investment operates mainly in 48 cities, including Beijing and Shanghai. The company has been developing shopping centers in recent years while the real estate business has contracted amid China's economic slowdown.

Shortly after it was founded, the company mainly handled government-related projects, such as constructing army hospital or foreign ministry building. As the Chinese economy later grew and the housing supply tightened, the company began building condominiums and other collective homes for nongovernment workers.

For a long time, China Overseas Land & Investment concentrated on housing, but it later embarked on the development of shopping centers as Chinese consumers' purchasing power grew. It opened an 80,000-sq.-meter commercial facility in Shenyang, Liaoning Province in May 2014, and aims to set up similar complexes in Nanjing, Jiangsu Province, and Zhuhai, Guangdong Province, within a few years.

The company also operates in Hong Kong and Macau, but has almost no presence in foreign markets. It bought in 2012 an office building in London for 200 million pounds ($301 million at current rate), but has made no other significant investments abroad. With the glut of housing in China, the company may have to begin expanding its activities abroad.

Business Summary

China Overseas Land & Investment Ltd. is an investment holding company, which engages in the provision of finance, treasury, and management services. The firm operates its business through the following segments: Property Development, Property Investment and Other Operations. The Property Development segment involves in property development activities. The Property Investment segment offers property rentals. The Other Operations segment comprises of real estate agency and management services; and construction and building design consultancy services. The company was founded in 1979 and is headquartered in Hong Kong.

Financial Highlights

Dec 2021 HKDUSD
Revenue294,669.20M37,910.12M
Gross Profit71,053.16M9,141.21M
Operating income63,047.37M8,111.24M
Income before tax71,642.32M9,217.01M
Net income48,395.68M6,226.25M
EBITDA63,539.02M8,174.49M
Diluted EPS4.420.56
Dividends Per Share1.210.15
Total Assets1,064.12B136,491.28M
Total liabilities627,291.03M80,460.09M
Total equity420,265.35M53,905.74M
Operating cash flow16,968.43M2,183.04M
Currency in HKDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 166,852.72M 170,634.07M 188,087.74M 212,421.65M 294,669.20M
Gross Profit 57,580.36M 65,778.66M 64,850.92M 66,085.51M 71,053.16M
Operating income 50,388.60M 58,604.71M 58,881.69M 59,472.53M 63,047.37M
Income before tax 63,419.29M 72,568.40M 69,832.13M 72,306.85M 71,642.32M
Net income 40,766.83M 44,900.30M 47,191.69M 49,334.58M 48,395.68M
EBITDA 51,974.60M 60,392.23M 59,149.59M 59,889.25M 63,539.02M
Diluted EPS 3.72 4.10 4.30 4.47 4.42
Dividends Per Share 0.80 0.90 1.02 1.18 1.21
Total Assets 645,404.78M 725,340.65M 809,746.49M 976,561.31M 1,064.12B
Total liabilities 371,861.35M 431,734.41M 486,310.65M 587,257.15M 627,291.03M
Total equity 265,694.28M 283,481.07M 313,881.99M 372,464.76M 420,265.35M
Operating cash flow -45,010.69M -14,654.55M 4,691.48M 5,877.21M 16,968.43M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 21,411.09M 21,771.36M 24,005.48M 27,388.05M 37,910.12M
Gross Profit 7,388.90M 8,392.76M 8,276.87M 8,520.57M 9,141.21M
Operating income 6,466.03M 7,477.43M 7,515.02M 7,667.94M 8,111.24M
Income before tax 8,138.17M 9,259.07M 8,912.61M 9,322.70M 9,217.01M
Net income 5,231.33M 5,728.87M 6,023.03M 6,360.83M 6,226.25M
EBITDA 6,669.55M 7,705.50M 7,549.21M 7,721.67M 8,174.49M
Diluted EPS 0.47 0.52 0.54 0.57 0.56
Dividends Per Share 0.10 0.11 0.13 0.15 0.15
Total Assets 82,561.08M 92,643.79M 103,922.90M 125,945.34M 136,491.28M
Total liabilities 47,569.02M 55,143.07M 62,413.13M 75,737.49M 80,460.09M
Total equity 33,987.98M 36,207.48M 40,283.63M 48,036.10M 53,905.74M
Operating cash flow -5,775.92M -1,869.78M 598.76M 757.76M 2,183.04M

Valuation Measures

Dec 2021
PER4.17
ROA4.74%
ROE12.20%
Operating margin21.39%
Profit margin16.42%

Key executives

  • Chief Executive Officer & Executive Director: Zhi Chao Zhang
  • Vice Chairman, COO, Chief Architect & EVP: Liang Luo
  • Chief Financial Officer: Sai Kit Lui
  • Executive Director & Vice President: Guanghui Guo
  • Vice President: Guo Xin Ouyang

Shareholders

  • China State Construction Engineering Corp. Ltd. (56.0%)
  • CITIC Ltd. (10.0%)
  • The Vanguard Group, Inc. (1.3%)
  • BlackRock Fund Advisors (0.9%)
  • JPMorgan Asset Management (Asia Pacific) Ltd. (0.6%)
  • Dimensional Fund Advisors LP (0.5%)
  • T. Rowe Price International Ltd. (0.5%)
  • Norges Bank Investment Management (0.5%)
  • Vontobel Asset Management AG (0.4%)
  • UBS Asset Management (Hong Kong) Ltd. (0.4%)

Contact Details

  • Website:http://www.coli.com.hk
  • Address: 10th Floor, Three Pacific Place, 1 Queen's Road East, Hong Kong, Hong Kong
  • Phone: +852.2988.0666

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Competitors

  • Xinyuan Real Estate Co. Ltd. Sponsored ADR
Last Updated on 12 Aug, 2022

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