Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Overseas Land & Investment Limited    688   HK0688002218

CHINA OVERSEAS LAND & INVESTMENT LIMITED

(688)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

China Overseas Land & Investment : PROPERTY SALES AND LAND ACQUISITION UPDATES FOR THE TWO MONTHS ENDED 29 FEBRUARY 2020

share with twitter share with LinkedIn share with facebook
share via e-mail
03/05/2020 | 03:57am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(incorporated in Hong Kong with limited liability)

(Stock Code: 688)

PROPERTY SALES AND LAND ACQUISITION UPDATES FOR THE TWO MONTHS ENDED 29 FEBRUARY 2020

China Overseas Land & Investment Limited (the "Company") is pleased to announce certain operating data of the Company, together with its subsidiaries, joint ventures and associates (collectively, the "China Overseas Series of Companies") for the two months ended 29 February 2020 (the "Property Sales and Land Acquisition Updates"). This announcement is also available on the website of the Company (www.coli.com.hk).

1. Property Sales Update

For February 2020, the contracted property sales of the China Overseas Series of Companies amounted to approximately RMB12.666 billion and the corresponding gross floor area ("GFA") sold was approximately 706,600 square meters, with year-on-year decrease of 29.2% and year- on-year decrease of 36.1% respectively. Details of the contracted property sales and the corresponding GFA are set out in Table 1 below.

From January to February 2020, the accumulated contracted property sales of the China Overseas Series of Companies amounted to approximately RMB32.942 billion and the accumulated corresponding GFA sold was approximately 1,809,600 square meters, with year- on-year decrease of 22.7% and year-on-year decrease of 23.3% respectively.

In addition, as at 29 February 2020, the China Overseas Series of Companies had recorded subscribed property sales of approximately RMB14.481 billion, which are expected to be turned into contracted property sales in the following months.

1

Table 1: Contracted property sales of and the corresponding GFA sold by the China Overseas Series of Companies for February 2020

Contracted property sales

Contracted area sold

GFA

(RMB'00 million)

('0000 sq.m.)

The Company and its subsidiaries

Regional Breakdown(Note 1)

Hua Nan Region

13.45

7.15

Hua Dong Region

17.37

8.14

Hua Bei Region

25.61

12.04

Northern Region

14.43

10.73

Western Region

12.41

8.13

Hong Kong and Macau

1.51

0.09

Sub-total for the Company and its

84.78

46.28

subsidiaries

Joint ventures and associates of the

30.38

16.81

Company

China Overseas Grand Oceans

11.50

7.57

Group Limited

Total

126.66

70.66

2

2. Land Acquisition Update

For February 2020, the Company (together with its subsidiaries (collectively, the "Group")) acquired 2 land parcels in Shanghai with aggregate attributable GFA of approximately 95,396.70 square meters, both parcels will be developed in form of cooperation projects. The land premium payable by the Group in respect of the relevant land acquisitions amounted to approximately RMB989.31 million. From January to February 2020, the aggregate attributable GFA was approximately 487,213.27 square meters and the aggregate land premium payable by the Group amounted to approximately RMB9,028.98 million. Details of the land acquisitions by the Group are set out in Table 2 below.

In addition, for February 2020, China Overseas Grand Oceans Group Limited ("COGO", together with its subsidiaries (collectively, the "COGO Group")) acquired 1 land parcel in Zibo, Shandong Province with an attributable GFA of 161,241.00 square meters. The land premium payable by the COGO Group in respect of such land parcel amounted to approximately RMB241.10 million.

Table 2: Details of the land acquisitions acquired during February 2020

Land parcels acquired by the Group during February 2020

City in which

Name of

Percentage

Attributable

Land

Date of

land

interest

Land area

Total GFA

premium

No.

development

GFA

acquisition

acquired is

attributable to

(sq.m.)

(sq.m.)

(RMB mn)

project

(sq.m.)

located

the Company

(Note 2)

1

February

Shanghai

Putuo District

70%

6,534.30

28,822.00

20,175.40

352.67

Project #2

2

February

Shanghai

Putuo District

70%

23,897.00

107,459.00

75,221.30

636.64

Project #3

Sub-total for the Group:

30,431.30

136,281.00

95,396.70

989.31

Land acquisitions by the COGO Group during February 2020

Attributable

Land

Land area

Total GFA

premium

GFA

(sq.m.)

(sq.m.)

(RMB mn)

(sq.m.)

(Note 2)

Sub-total for the COGO Group:

77,374.00

161,241.00

161,241.00

241.10

TOTAL:

107,805.30

297,522.00

256,637.70

1,230.41

Note:

  1. The regional breakdown is based on the locations of the regional headquarters responsible for the management of the relevant development projects, and is for reference only. The updates for cities covered in each region are set out in the annual report and interim report of the Company.
  2. The land premium represents the full sum of land premium payable by the Group in respect of the relevant acquisition.

3

Please be informed that the Property Sales and Land Acquisition Updates have been prepared based on internal management records of the China Overseas Series of Companies which have not been audited nor reviewed by external auditors, and as such the data contained therein is for investors' information only. Such data may differ from the figures to be disclosed in the audited or unaudited consolidated financial statements to be published by the Company and COGO on an annual, semi-annual or quarterly basis due to various uncertainties during the process of collecting and collating such data. The Property Sales and Land Acquisition Updates do not constitute, nor should they be construed as, an offer or solicitation for the purchase or sale of any securities or financial instruments of the Company or any of its subsidiaries, joint ventures or associates. They do not and are not intended to provide any investment service or investment advice.

Shareholders of the Company and potential investors should exercise caution when investing or dealing in the securities of the Company. You are also recommended to consult your own professional or financial advisers if you are in any doubt as to your investment positions.

By Order of the Board

China Overseas Land & Investment Limited

Yan Jianguo

Chairman and Executive Director

Hong Kong, 5 March 2020

As at the date of this announcement, Mr. Yan Jianguo (Chairman), Mr. Luo Liang (Vice Chairman), Mr. Zhang Zhichao (Chief Executive Officer) and Mr. Guo Guanghui are the executive directors; Mr. Zhuang Yong (Vice Chairman) and Mr. Chang Ying are the non-executive directors; and Mr. Lam Kwong Siu, Dr. Fan Hsu Lai Tai, Rita and Mr. Li Man Bun, Brian David are the independent non-executive directors of the Company.

4

Disclaimer

China Overseas Land & Investment Limited published this content on 05 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 March 2020 08:56:06 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on CHINA OVERSEAS LAND & INVE
04/23CHINA OVERSEAS LAND & INVESTMENT : 1Q Operating Profit Fell 25%
DJ
04/20CHINA OVERSEAS LAND & INVESTMENT LIM : quaterly earnings release
03/25CHINA OVERSEAS LAND & INVESTMENT : 2019 Net Profit Rose 10%
DJ
03/05CHINA OVERSEAS LAND & INVESTMENT : Property sales and land acquisition updates f..
PU
03/02CHINA OVERSEAS LAND & INVESTMENT : Notice of Listing on The Stock Exchange of Ho..
PU
02/07CHINA OVERSEAS LAND & INVESTMENT : Appoints Zhang Zhichao as CEO
DJ
02/07CHINA OVERSEAS LAND & INVESTMENT : (1) change of chief executive officer (2) app..
PU
02/06CHINA OVERSEAS LAND & INVESTMENT : Property sales and land acquisition updates f..
PU
2019CHINA OVERSEAS LAND & INVESTMENT : Land Acquisition Update (for the eleven month..
PU
2019CHINA OVERSEAS LAND & INVESTMENT : Property Sales Update (for the eleven months ..
PU
More news
Financials
Sales 2020 221 B 28 537 M 28 537 M
Net income 2020 45 213 M 5 834 M 5 834 M
Net Debt 2020 6 492 M 838 M 838 M
P/E ratio 2020 5,98x
Yield 2020 4,67%
Capitalization 271 B 34 912 M 34 916 M
EV / Sales 2019
EV / Sales 2020 1,25x
Nbr of Employees 6 200
Free-Float 34,0%
Chart CHINA OVERSEAS LAND & INVESTMENT LIMITED
Duration : Period :
China Overseas Land & Investment Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA OVERSEAS LAND & INVE
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Average target price 33,38 HKD
Last Close Price 24,70 HKD
Spread / Highest target 61,4%
Spread / Average Target 35,1%
Spread / Lowest Target 13,0%
EPS Revisions
Managers
NameTitle
Zhi Chao Zhang Chief Executive Officer & Executive Director
Jian Guo Yan Chairman
Liang Luo Vice Chairman, COO, Chief Architect & EVP
Sai Kit Lui Chief Financial Officer
Kwong Siu Lam Independent Non-Executive Director