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 2018	HKD	USD
Revenue	170,634.07M	21,771.36M
Gross Profit	65,778.66M	8,392.76M
Operating income	58,604.71M	7,477.43M
Income before tax	72,568.40M	9,259.07M
Net income	44,900.30M	5,728.87M
EBITDA	60,392.23M	7,705.50M
Diluted EPS	4.10	0.52
Dividends Per Share	0.90	0.11
Total Assets	725,340.65M	92,643.79M
Total liabilities	431,734.41M	55,143.07M
Total equity	283,481.07M	36,207.48M
Operating cash flow	-14,654.55M	-1,869.78M
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018
Revenue	132,892.73M	163,326.93M	161,635.44M	166,852.72M	170,634.07M
Gross Profit	41,244.97M	49,107.85M	48,561.68M	57,580.36M	65,778.66M
Operating income	36,710.17M	40,400.34M	39,954.38M	50,388.60M	58,604.71M
Income before tax	44,323.63M	51,368.00M	57,101.80M	63,419.29M	72,568.40M
Net income	27,200.01M	34,643.21M	37,020.63M	40,766.83M	44,900.30M
EBITDA	36,827.77M	40,717.54M	42,357.05M	51,974.60M	60,392.23M
Diluted EPS	3.33	3.75	3.64	3.72	4.10
Dividends Per Share	0.55	0.61	0.77	0.80	0.90
Total Assets	410,163.14M	582,248.09M	571,289.27M	645,404.78M	725,340.65M
Total liabilities	271,606.34M	366,668.56M	343,865.91M	371,861.35M	431,734.41M
Total equity	133,670.48M	209,564.28M	222,248.44M	265,694.28M	283,481.07M
Operating cash flow	-7,022.06M	35,720.38M	54,593.23M	-45,010.69M	-14,654.55M

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018
Revenue	17,137.09M	21,067.44M	20,822.71M	21,411.09M	21,771.36M
Gross Profit	5,318.71M	6,334.39M	6,255.96M	7,388.90M	8,392.76M
Operating income	4,733.93M	5,211.21M	5,147.13M	6,466.03M	7,477.43M
Income before tax	5,715.72M	6,625.92M	7,356.15M	8,138.17M	9,259.07M
Net income	3,507.56M	4,468.60M	4,769.19M	5,231.33M	5,728.87M
EBITDA	4,749.10M	5,252.13M	5,456.65M	6,669.55M	7,705.50M
Diluted EPS	0.42	0.48	0.46	0.47	0.52
Dividends Per Share	0.07	0.07	0.09	0.10	0.11
Total Assets	52,891.17M	75,127.32M	73,684.79M	82,561.08M	92,643.79M
Total liabilities	35,024.06M	47,311.15M	44,351.76M	47,569.02M	55,143.07M
Total equity	17,237.01M	27,040.02M	28,665.56M	33,987.98M	36,207.48M
Operating cash flow	-905.52M	4,607.55M	7,032.98M	-5,775.92M	-1,869.78M

Valuation Measures

Dec 2018
PER	6.56
ROA	6.55%
ROE	16.35%
Operating margin	34.34%
Profit margin	26.31%

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 (0.9%)
APG Asset Management NV (0.7%)
FIL Investment Management (Hong Kong) Ltd. (0.6%)
Dimensional Fund Advisors LP (0.5%)
JPMorgan Asset Management (Asia Pacific) 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 20 Feb, 2020