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    1109   KYG2108Y1052

CHINA RESOURCES LAND LIMITED

(1109)
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Poly Property Group Co., Limited and China Resources Land Limited Announce Entry of Joint Venture Agreement

11/26/2021 | 03:57am EST

Poly Property Group Co., Limited and China Resources Land Limited acquired a piece of land of about 9,481 square metres located in Kai Tak, Kowloon from the Government of the HKSAR through a public tender in June 2019. It is proposed that the Land will be developed through a joint venture company which is held as to 35% by the Company and 65% by CRL. It is intended by the shareholders to the JV Co that the Land will be developed into a composite development comprising primarily of residential properties. The parties have entered into a joint venture agreement on 26 November 2021 to set out their rights and obligations in relation to the JV Co and to regulate the operation and management of the JV Co going forward. Pursuant to the JVA, the parties agree that the scope of business of the JV Co is to acquire, hold and develop the Land in compliance with the terms and conditions of the JVA with the prime objective of selling or letting of the units, buildings and any parts to be developed and constructed on the Land according to the decision of the shareholders of the JV Co and the land grant conditions made from time to time by reference to the prevailing real estate market condition.


ę S&P Capital IQ 2021
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Analyst Recommendations on CHINA RESOURCES LAND LIMITED
More recommendations
Financials
Sales 2021 259 B 33 244 M 33 244 M
Net income 2021 35 862 M 4 603 M 4 603 M
Net Debt 2021 97 278 M 12 486 M 12 486 M
P/E ratio 2021 7,46x
Yield 2021 4,57%
Capitalization 261 B 33 496 M 33 499 M
EV / Sales 2021 1,38x
EV / Sales 2022 1,19x
Nbr of Employees 47 537
Free-Float -
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Technical analysis trends CHINA RESOURCES LAND LIMITED
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Last Close Price 36,60 HKD
Average target price 44,03 HKD
Spread / Average Target 20,3%
EPS Revisions
Managers and Directors
Xin Li Co-President & Executive Director
Da Wei Zhang Vice Chairman & Co-President
Shi Qing Guo Chief Financial Officer & Executive Director
Xiang Ming Wang Chairman
Tong Dong Shen Chief Information Officer