Hang Lung Properties Ltd.

15.42 HKD
-0.14
-0.90%

Hong Kong
Aug 17, 2018
Ticker
HKG(101)
Prev. close
15.56
Market cap (HKD)
69,984.50M
Market cap (USD)
8,915.56M
Shares
4,497.72M

In the news

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See more articles on Hang Lung Properties Ltd.

Company Background

Hang Lung Properties is a major Hong Kong real estate developer. It operates a number of upscale shopping malls in mainland China.

After its founding in 1960, the company grew rapidly by building large condominiums along subway lines in Hong Kong. In the Causeway Bay commercial district on Hong Kong Island, the company operates such shopping malls as Fashion Walk and Hang Lung Center, where H&M and other global fashion houses have their flagship stores.

Hang Lung entered mainland China in the early 1990s. In Shanghai's Nanjing Xi Lu shopping district, it opened Plaza 66, a 66-story office building and mall complex that houses the flagship stores of such luxury brands as Louis Vuitton and Chanel. Plaza 66 is said to be one of the most successful commercial complexes in China. Hang Lung has opened similar facilities in the cities of Tianjin, Wuxi and Shenyang.

The company's chairman, Ronnie Chan Chi-chung, is the son of the founder. He earned an MBA at the University of Southern California and has many contacts in the U.S. After becoming chairman in 1991, he began actively investing in the mainland Chinese market.

Chan is known for his straight-talking manner and is often invited to speak at international conferences. He is also known for his philanthropy, making generous donations to Harvard University and other educational institutions through a foundation established by his family.

Business Summary

Hang Lung Properties Ltd. is an investment holding company, which engages in property investment for rental income, property development for sales and leasing, car park management, and property management through its subsidiaries. It operates through the Property Leasing and Property Sales segments. The Property Leasing segment includes property leasing operation in investment properties, such as retail, office, residential, serviced apartments and carparks in mainland China and Hong Kong. The Property Sales segment includes development and sale of the Group's trading properties in Hong Kong. The company was founded on December 19, 1949 and is headquartered in Hong Kong.

Financial Highlights

Dec 2017	HKD	USD
Revenue	11,748M	1,507.54M
Gross Profit	8,459M	1,085.48M
Operating income	6,677M	856.81M
Income before tax	9,902M	1,270.65M
Net income	8,124M	1,042.49M
EBITDA	7,922M	1,016.57M
Diluted EPS	1.81	0.23
Dividends Per Share	0.75	0.09
Total Assets	183,586M	23,484.57M
Total liabilities	41,341M	5,288.39M
Total equity	136,158M	17,417.52M
Operating cash flow	7,968M	1,022.48M
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017
Revenue	9,941M	17,954M	10,067M	13,853M	11,748M
Gross Profit	7,640M	13,932M	7,667M	9,713M	8,459M
Operating income	6,600M	12,617M	5,971M	7,995M	6,677M
Income before tax	9,204M	14,395M	6,662M	7,917M	9,902M
Net income	7,212M	11,704M	5,092M	6,195M	8,124M
EBITDA	7,035M	13,337M	7,063M	9,159M	7,922M
Diluted EPS	1.61	2.61	1.13	1.38	1.81
Dividends Per Share	0.75	0.76	0.75	0.75	0.75
Total Assets	182,280M	193,179M	184,018M	174,907M	183,586M
Total liabilities	51,113M	54,176M	49,126M	42,762M	41,341M
Total equity	124,534M	132,327M	128,989M	126,565M	136,158M
Operating cash flow	4,882M	15,162M	5,148M	6,341M	7,968M

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017
Revenue	1,281.61M	2,315.24M	1,298.53M	1,784.61M	1,507.54M
Gross Profit	984.96M	1,796.59M	988.96M	1,251.27M	1,085.48M
Operating income	850.88M	1,627.01M	770.19M	1,029.95M	856.81M
Income before tax	1,186.59M	1,856.29M	859.32M	1,019.90M	1,270.65M
Net income	929.78M	1,509.28M	656.81M	798.07M	1,042.49M
EBITDA	906.96M	1,719.86M	911.05M	1,179.90M	1,016.57M
Diluted EPS	0.20	0.33	0.14	0.17	0.23
Dividends Per Share	0.09	0.09	0.09	0.09	0.09
Total Assets	23,508.62M	24,910.73M	23,743.79M	22,559.47M	23,484.57M
Total liabilities	6,592.03M	6,986.07M	6,338.71M	5,515.43M	5,288.39M
Total equity	16,061.13M	17,063.77M	16,643.41M	16,324.33M	17,417.52M
Operating cash flow	629.39M	1,955.20M	664.03M	816.88M	1,022.48M

Valuation Measures

Dec 2017
PER	10.55
ROA	4.53%
ROE	6.18%
Operating margin	56.83%
Profit margin	69.15%

Key executives

Chief Executive Officer & Executive Director: Lo Wai-pak
Chief Financial Officer & Executive Director: Hau Cheong Ho
Executive Director: Ka Ngok Chan
Head-Corporate Audit: Tin-For Tsang
Director-Central Marketing: Wing Sze Chan

Shareholders

Hang Lung Group Ltd. (56.8%)
First Eagle Investment Management LLC (6.0%)
The Vanguard Group, Inc. (1.4%)
Seafarer Capital Partners LLC (0.9%)
BlackRock Fund Advisors (0.9%)
Schroder Investment Management (Singapore) Ltd. (0.7%)
Walter Scott & Partners Ltd. (0.6%)
CHAN TAN CHING FEN (0.6%)
CHAN WEN BWO (0.5%)
Eastspring Investments (Singapore) Ltd. (0.5%)

Contact Details

Website:http://www.hanglung.com
Address: 28th Floor, Standard Chartered Bank, 4 Des Voeux Road Central, Hong Kong, Hong Kong
Phone: +852.2879.0111

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Competitors

Last Updated on 17 Aug, 2018

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