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
Financial Highlights
| Dec 2019 | HKD | USD |
| Revenue | 188,087.74M | 24,005.48M |
| Gross Profit | 64,850.92M | 8,276.87M |
| 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 | 59,149.59M | 7,549.21M |
| 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 | 4,691.48M | 598.76M |
| Currency in HKD | Currency in USD |
Historical Data
| 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 | 64,850.92M |
| 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 | 59,149.59M |
| 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 | 4,691.48M |
| 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 | 8,276.87M |
| 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 | 7,549.21M |
| 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 | 598.76M |
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. (10.0%)
- Capital Research & Management Co. (Global Investors) (1.9%)
- Capital Research & Management Co. (World Investors) (1.9%)
- The Vanguard Group, Inc. (1.4%)
- JPMorgan Asset Management (Asia Pacific) Ltd. (0.9%)
- BlackRock Fund Advisors (0.7%)
- Dimensional Fund Advisors LP (0.7%)
- FIL Investment Management (Hong Kong) Ltd. (0.5%)
- Canada Pension Plan Investment Board (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
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Last Updated on 21 Sep, 2020