ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintTitle ChevronIcon Twitter
Finance

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 2019 HKDUSD
Revenue8,857M1,130.41M
Gross Profit6,492M828.56M
Operating income5,853M747.01M
Income before tax14,800M1,888.91M
Net income6,172M787.72M
EBITDA5,949M759.26M
Diluted EPS1.370.17
Dividends Per Share0.760.09
Total Assets199,980M25,665.44M
Total liabilities52,168M6,695.24M
Total equity138,669M17,796.78M
Operating cash flow4,132M527.36M
Currency in HKDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 10,067M 13,853M 11,748M 9,407M 8,857M
Gross Profit 7,667M 9,713M 8,459M 6,821M 6,492M
Operating income 5,971M 7,995M 6,677M 5,115M 5,853M
Income before tax 6,587M 7,917M 9,902M 9,921M 14,800M
Net income 5,092M 6,195M 8,124M 8,078M 6,172M
EBITDA 7,063M 9,159M 7,922M 6,229M 5,949M
Diluted EPS 1.13 1.38 1.81 1.80 1.37
Dividends Per Share 0.75 0.75 0.75 0.75 0.76
Total Assets 184,018M 174,907M 183,586M 186,453M 199,980M
Total liabilities 49,126M 42,762M 41,341M 42,859M 52,168M
Total equity 128,989M 126,565M 136,158M 137,561M 138,669M
Operating cash flow 5,148M 6,341M 7,968M 4,974M 4,132M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 1,298.53M 1,784.61M 1,507.54M 1,200.24M 1,130.41M
Gross Profit 988.96M 1,251.27M 1,085.48M 870.29M 828.56M
Operating income 770.19M 1,029.95M 856.81M 652.62M 747.01M
Income before tax 849.65M 1,019.90M 1,270.65M 1,265.83M 1,888.91M
Net income 656.81M 798.07M 1,042.49M 1,030.67M 787.72M
EBITDA 911.05M 1,179.90M 1,016.57M 794.76M 759.26M
Diluted EPS 0.14 0.17 0.23 0.22 0.17
Dividends Per Share 0.09 0.09 0.09 0.09 0.09
Total Assets 23,743.79M 22,559.47M 23,484.57M 23,814.62M 25,665.44M
Total liabilities 6,338.71M 5,515.43M 5,288.39M 5,474.14M 6,695.24M
Total equity 16,643.41M 16,324.33M 17,417.52M 17,569.91M 17,796.78M
Operating cash flow 664.03M 816.88M 1,022.48M 634.63M 527.36M

Valuation Measures

Dec 2019
PER12.46
ROA3.19%
ROE4.46%
Operating margin66.08%
Profit margin69.68%

Key executives

  • Chief Executive Officer & Executive Director: Lo Wai-pak
  • Chief Financial Officer & Executive Director: Hau Cheong Ho
  • Director-Leasing & Management: Peck Lim Chhoa
  • Executive Director: Ka Ngok Chan
  • Head-Corporate Audit: Tin-For Tsang

Shareholders

  • Hang Lung Group Ltd. (58.8%)
  • APG Asset Management NV (2.5%)
  • The Vanguard Group, Inc. (1.5%)
  • First Eagle Investment Management LLC (1.2%)
  • Schroder Investment Management Ltd. (1.1%)
  • Walter Scott & Partners Ltd. (1.0%)
  • BlackRock Fund Advisors (0.8%)
  • Massachusetts Financial Services Co. (0.6%)
  • CHAN TAN CHING FEN (0.6%)
  • Schroder Investment Management (Hong Kong) Ltd. (0.6%)

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

  • Hangzhou Hang Lung Properties Ltd.
  • Total Select Ltd.
  • Superlane Development Ltd.
  • Passion Success Ltd.
  • HLP Treasury Ltd.
  • Hang Wise Co., Ltd.
  • Hang Top Ltd.
  • Carmana Ltd.
  • Hubei Hang Lung Property Development Co., Ltd.
  • Wuxi Hang Ying Properties Ltd.
  • Tianjin Hang Lung Properties Ltd.
  • Liaoning Hang Lung Properties Ltd.
  • Kunming Hang Ying Properties Ltd.
  • Hang Lung Real Estate Agency Ltd.
  • Grand Centre Ltd.
  • AP City Ltd.
  • AP Joy Ltd.
  • AP Properties Ltd.
  • AP Star Ltd.
  • AP Success Ltd.
  • AP Universal Ltd.
  • AP Win Ltd.
  • AP World Ltd.
  • Bonna Estates Co., Ltd.
  • Caddo Enterprises Ltd.
  • Country Bond Development Ltd.
  • Dokay Ltd.
  • Easegood Enterprises Ltd.
  • Fu Yik Co., Ltd.
  • Gala Ruby Ltd.

Competitors

    Last Updated on 29 Sep, 2020

    You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

    Stay ahead with our exclusives on Asia;
    the most dynamic market in the world.

    Stay ahead with our exclusives on Asia

    Get trusted insights from experts within Asia itself.

    Get trusted insights from experts
    within Asia itself.

    Try 1 month for $0.99

    You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

    This is your last free article this month

    Stay ahead with our exclusives on Asia; the most
    dynamic market in the world
    .

    Get trusted insights from experts
    within Asia itself.

    Try 3 months for $9

    Offer ends October 31st

    Your trial period has expired

    You need a subscription to...

    • Read all stories with unlimited access
    • Use our mobile and tablet apps
    See all offers and subscribe

    Your full access to Nikkei Asia has expired

    You need a subscription to:

    • Read all stories with unlimited access
    • Use our mobile and tablet apps
    See all offers
    NAR on print phone, device, and tablet media

    Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

    Celebrate our next chapter
    Free access for everyone - Sep. 30

    Find out more