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Finance

Hang Lung Properties Ltd.

  • 18.22 HKD
  • 0.00
  • 0.00%
  • Hong Kong
    Apr 20, 2018
  • Ticker
    HKG(101)
  • Prev. close
    18.22
  • Market cap (HKD)
    81,947.30M
  • Market cap (USD)
    10,444.40M
  • Shares
    4,497.66M

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 HKDUSD
Revenue11,748M1,507.54M
Gross Profit8,459M1,085.48M
Operating income6,677M856.81M
Income before tax9,824M1,260.64M
Net income8,124M1,042.49M
EBITDA7,922M1,016.57M
Diluted EPS1.810.23
Dividends Per Share0.750.09
Total Assets183,586M23,484.57M
Total liabilities41,341M5,288.39M
Total equity136,158M17,417.52M
Operating cash flow7,968M1,022.48M
Currency in HKDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 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 9,824M
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 2013Dec 2014Dec 2015Dec 2016Dec 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 1,260.64M
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
PER10.55
ROA4.53%
ROE6.18%
Operating margin56.83%
Profit margin69.15%

Key executives

  • Chief Executive Officer & Executive Director: Nan Lok Chen
  • 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. (56.0%)
  • First Eagle Investment Management LLC (6.0%)
  • The Vanguard Group, Inc. (1.3%)
  • Aberdeen Asset Managers Ltd. (1.0%)
  • Seafarer Capital Partners LLC (1.0%)
  • BlackRock Fund Advisors (0.9%)
  • Walter Scott & Partners Ltd. (0.6%)
  • APG Asset Management NV (0.6%)
  • CHAN TAN CHING FEN (0.6%)
  • CHAN WEN BWO (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

Related Companies

  • Newhart Investment Ltd.
  • Grand Hotel Group Ltd. (Hong Kong)
  • Antonis Ltd.
  • Hang Lung Property Management Ltd.
  • Shenyang Hang Lung Properties Ltd.
  • Shandong Hang Lung Properties Ltd.
  • Hang Lung Project Management Ltd.
  • Wuxi Hang Lung Properties Ltd.
  • HLP Treasury Ltd.
  • HLP Finance Ltd.
  • HLP International Treasury Ltd.
  • Grand Hotel Holdings Ltd.

Competitors

    Last Updated on 20 Apr, 2018

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