China Overseas Land & Investment Ltd.

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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 company 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 2019	HKD	USD
Revenue	188,087.74M	24,005.48M
Gross Profit	64,977.47M	8,293.02M
Operating income	58,020.71M	7,405.13M
Income before tax	69,832.13M	8,912.61M
Net income	47,191.69M	6,023.03M
EBITDA	--	--
Diluted EPS	4.30	0.54
Dividends Per Share	1.02	0.13
Total Assets	809,746.49M	103,922.90M
Total liabilities	486,310.65M	62,413.13M
Total equity	313,881.99M	40,283.63M
Operating cash flow	--	--
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019
Revenue	163,326.93M	161,635.44M	166,852.72M	170,634.07M	188,087.74M
Gross Profit	49,107.85M	48,561.68M	57,580.36M	65,778.66M	64,977.47M
Operating income	40,400.34M	39,954.38M	50,388.60M	58,604.71M	58,020.71M
Income before tax	51,368.00M	57,101.80M	63,419.29M	72,568.40M	69,832.13M
Net income	34,643.21M	37,020.63M	40,766.83M	44,900.30M	47,191.69M
EBITDA	40,717.54M	42,357.05M	51,974.60M	60,392.23M	--
Diluted EPS	3.75	3.64	3.72	4.10	4.30
Dividends Per Share	0.61	0.77	0.80	0.90	1.02
Total Assets	582,248.09M	571,289.27M	645,404.78M	725,340.65M	809,746.49M
Total liabilities	366,668.56M	343,865.91M	371,861.35M	431,734.41M	486,310.65M
Total equity	209,564.28M	222,248.44M	265,694.28M	283,481.07M	313,881.99M
Operating cash flow	35,720.38M	54,593.23M	-45,010.69M	-14,654.55M	--

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019
Revenue	21,067.44M	20,822.71M	21,411.09M	21,771.36M	24,005.48M
Gross Profit	6,334.39M	6,255.96M	7,388.90M	8,392.76M	8,293.02M
Operating income	5,211.21M	5,147.13M	6,466.03M	7,477.43M	7,405.13M
Income before tax	6,625.92M	7,356.15M	8,138.17M	9,259.07M	8,912.61M
Net income	4,468.60M	4,769.19M	5,231.33M	5,728.87M	6,023.03M
EBITDA	5,252.13M	5,456.65M	6,669.55M	7,705.50M	--
Diluted EPS	0.48	0.46	0.47	0.52	0.54
Dividends Per Share	0.07	0.09	0.10	0.11	0.13
Total Assets	75,127.32M	73,684.79M	82,561.08M	92,643.79M	103,922.90M
Total liabilities	47,311.15M	44,351.76M	47,569.02M	55,143.07M	62,413.13M
Total equity	27,040.02M	28,665.56M	33,987.98M	36,207.48M	40,283.63M
Operating cash flow	4,607.55M	7,032.98M	-5,775.92M	-1,869.78M	--

Valuation Measures

Dec 2019
PER	7.04
ROA	6.14%
ROE	15.80%
Operating margin	30.84%
Profit margin	25.09%

Key executives

Chief Executive Officer & Executive Director: Zhi Chao Zhang
Vice Chairman, COO, Chief Architect & EVP: Liang Luo
Chief Financial Officer: Sai Kit Lui
Vice President: Yong Guo
Vice President: Hong Bo Kan

Shareholders

China State Construction Engineering Corp. Ltd. (55.9%)
CITIC Ltd. (10%)
Capital Research & Management Co. (World Investors) (1.8%)
Capital Research & Management Co. (Global Investors) (1.5%)
The Vanguard Group, Inc. (1.4%)
BlackRock Fund Advisors (0.8%)
Dimensional Fund Advisors LP (0.6%)
JPMorgan Asset Management (Asia Pacific) Ltd. (0.5%)
Canada Pension Plan Investment Board (0.5%)
FIL Investment Management (Hong Kong) Ltd. (0.5%)

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 2 Apr, 2020