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 Resources Land Limited    1109   KYG2108Y1052

CHINA RESOURCES LAND LIMITED

(1109)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

China Resources Land : Voluntary Announcement - Possible Spin-off and Separate Listing of the Property Management and Commercial Operational Service Business of the Group

08/26/2020 | 12:11am EST

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.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities referred to herein will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States except pursuant to an exemption from, or a transaction not subject to, the registration requirements of the Securities Act. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements. The Company does not intend to make any public offering of securities in the United States.

You are cautioned not to place any undue reliance on the forward-looking statements (if any) contained herein. The Company cannot give any assurance that these forward-looking statements will prove to have been correct. These forward-looking statements are not guarantee of future performance and are subject to certain risks, assumptions and uncertainties. The Company undertakes no obligation to update or revise any forward-looking statements herein, whether as result of new information, future events or otherwise.

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1109)

VOLUNTARY ANNOUNCEMENT

POSSIBLE SPIN-OFF AND SEPARATE LISTING

OF THE PROPERTY MANAGEMENT AND COMMERCIAL

OPERATIONAL SERVICE BUSINESS OF THE GROUP

This announcement is made by China Resources Land Limited (the "Company", and together with its subsidiaries, the "Group") on a voluntary basis.

The board of directors (the "Board") of the Company would like to announce that the Company is considering a possible spin-off and separate listing of the property management service and commercial operational service business of the Group (the "Property Management and Commercial Operational Service Business") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") (the "Possible Spin-off"). The Board is pleased to announce that the Company has received the approval from the Stock Exchange on August 21, 2020 that it may proceed with the Possible Spin-off pursuant to Practice Note ("PN15") to the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"). The Possible Spin-off is not subject to the approval by the shareholders of the Company.

1

In the event that the Company proceeds with the Possible Spin-off, it will constitute a spin-off by the Company pursuant to PN15 and will also be a deemed disposal of an interest in the Property Management and Commercial Operational Service Business by the Company under Rule 14.29 of the Listing Rules.

As at the date of this announcement, the details of the Possible Spin-off have yet to be finalised. The Company will make further announcement(s) in connection with the Possible Spin-Off as and when appropriate or required in accordance with the requirements of the Listing Rules.

Shareholders of the Company and potential investors should note that the Possible Spin-off is subject to, among others, approvals from the relevant regulatory authorities and market conditions. There is no assurance that the Possible Spin-off will proceed or as to when it may take place. Shareholders of the Company and potential investors are reminded to exercise caution when dealing in the securities of the Company.

By Order of the Board

China Resources Land Limited

LI Xin

President

PRC, August 26, 2020

As at the date of this announcement, the non-executive directors of the Company are Mr. Wang Xiangming, Mr. Yan Biao, Mr. Chen Ying, Mr. Wang Yan and Mr. Chen Rong; the executive directors of the Company are Mr. Li Xin, Mr. Zhang Dawei, Mr. Xie Ji, Mr. Shen Tongdong and Mr. Wu Bingqi; and the independent non-executive directors of the Company are Mr. Ho Hin Ngai, Bosco, Mr. Andrew Y. Yan, Mr. Wan Kam To, Peter, Mr. Zhong Wei and Mr. Sun Zhe.

2

Disclaimer

China Resources Land Limited published this content on 26 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2020 04:11:18 UTC


© Publicnow 2020
All news about CHINA RESOURCES LAND LIMITED
11/26Hong Kong shares track regional rise on COVID-19 vaccine, U.S. stimulus hopes
RE
11/25JD Health IPO Adds to Hale and Hearty Hong Kong Market
DJ
11/24China Resources Mixc Seeks to Raise Up to US$1.58 Billion in Hong Kong IPO
DJ
11/19China shares up as investors eye recovery, unfazed by bond defaults
RE
09/30China shares rise on upbeat factory surveys, consumer stocks boost
RE
09/24CHINA RESOURCES LAND LIMITED : Ex-dividend day for interim dividend
FA
09/11CHINA RESOURCES LAND : Unaudited operating figures for the month ended 31 august..
PU
09/11CHINA RESOURCES LAND : Voluntary announcement-land acquisition update for the mo..
PU
09/09HYATT HOTELS : Andaz Xiamen Opens in South China; The new luxury lifestyle hotel..
AQ
08/31CHINA RESOURCES LAND : Proposed spin-off and separate listing of china resources..
PU
More news
Financials
Sales 2020 198 B 25 527 M 25 527 M
Net income 2020 30 987 M 3 997 M 3 997 M
Net Debt 2020 106 B 13 638 M 13 638 M
P/E ratio 2020 8,03x
Yield 2020 4,13%
Capitalization 243 B 31 366 M 31 368 M
EV / Sales 2020 1,76x
EV / Sales 2021 1,36x
Nbr of Employees 48 656
Free-Float 40,4%
Chart CHINA RESOURCES LAND LIMITED
Duration : Period :
China Resources Land Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA RESOURCES LAND LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Average target price 44,05 HKD
Last Close Price 34,10 HKD
Spread / Highest target 51,6%
Spread / Average Target 29,2%
Spread / Lowest Target 2,17%
EPS Revisions
Managers
NameTitle
Xin Li Co-President & Executive Director
Da Wei Zhang Vice Chairman & Co-President
Xiang Ming Wang Chairman
Shi Qing Guo Chief Financial Officer
Tong Dong Shen Chief Information Officer & Executive Director