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China Overseas Land & Investment Ltd. (00688.HK)

Real Estate

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2016 (AR)
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    2016
China Overseas Land & Investment Limited is the property platform of China Overseas Holdings Limited (China State Construction Engineering Corporation). The Company was founded in Hong Kong in 1979 and listed on Hong Kong Stock Exchange in 1992 (Stock code: 00688.HK, “China Overseas”). In 2007, China Overseas was included into Hang Seng Index Constituents. The Company boasts 38 years of property development and commercial property management experience with a focus on developing quality properties in major cities. The Company’s business network spans across the globe, including London, Hong Kong, Macau and 53 cities in mainland China (including Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou, Shenyang, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Hainan, Harbin, Jinan, Kunming, Nanchang, Nanjing, Ningbo, Suzhou, Qingdao, Taiyuan, Tianjin, Urumqi, Wuhan, Wuxi, Xi’an, Xiamen, Yantai, Zhengzhou, Zhongshan, Zhuhai, Changzhou#, Ganzhou#, Jilin#, Jiujiang#, Hefei#, Hohhot#, Huangshan#, Huizhou#, Lanzhou#, Nanning#, Nantong#, Shantou#, Shaoxing#, Weifang#, Xuzhou#, Yancheng#, Yangzhou#, Yinchuan#, Zibo#). As at the end of 2016, the Company holds 2.5 million sq m of investment properties, covering China Overseas offices, Unipark shopping malls, and hotels with star ratings. By the end of 2016, total assets of the Company reached HK$571.3 billion and land reserve amounted to 56.77 million sq m. In 2016, the contracted property sales of the Company amounted to around HK$210.6 billion, with a net profit of HK$37.02 billion.

With continuous business performances and effective corporate governance, China Overseas has been recognised widely and highly praised. In 2005, the Company earned investment grade credit ratings from Moody’s and Standard & Poor’s, and the ratings have been improving since then. The credit ratings of the Company assigned by the three international rating agencies in 2016 were: Baa1 (Moody’s), BBB+ (Standard & Poor’s), and A- (Fitch). For 13 years consecutively, China Overseas was awarded “China Blue Chip Real Estate Developer”, and was also among “China Valuable Real Estate Awards – Corporate Citizen of the Year”, and “Corporate Governance Asia Awards”. In 2016, the brand value of China Overseas reached RMB51.906 billion.

China Overseas embraces the brand positioning of “Quality. Lifestyle. Innovation” and has introduced five generations of residential products, which design philosophy is to proactively anticipate and meet the clients’ needs, now and beyond. Embracing the development philosophy of “Each and Every Detail of Each and Every Project”, the Company is committed to provide quality properties to clients. Highlight projects include: One Kai Tak(Hong Kong), Marina South(Hong Kong), No. 1 Oxford Road (Hong Kong), The Paragon (Macau), The Windsor Pavilion(Beijing), La Cite (Shanghai), One Honey Lake (Shenzhen), Park Royal (Guangzhou), No. 8 The Milestone (Tianjin), #1 Lake Lantern (Foshan), Silver Bay (Zhuhai), Glorious International (Xiamen), The Phoenix (Nanjing), Lohas Island (Suzhou), The Wetland (Hangzhou), La Cite (Ningbo), Paramount Jade (Ji’nan), The Peaceland (Qingdao), Piano Court (Wuhan), International Community (Changsha), One City South (Chengdu), International Community (Changchun), COLI City (Shenyang), The Throne (Chongqing), Elite Villa (Xi’an), The Phoenix (Dalian), The Great Hill (Hefei), and The Royal Lakefront (Nanning). The Company has also created middle to premium quality series of projects including “International Community”, “La Cite”, “COLI City”, “Residence Nine”, “Glorious City”, the “No. 1” series, “The Windsor” series, and “The Royal” series.
China Overseas now holds commercial property projects with 3 major product lines: China Overseas offices, Unipark shopping malls, and hotels with star ratings. The Company practices brand management with the operations principle “to unify ownership, hold and operate” to create long term values for the cities, the public and its business partners. The Company holds 2,500,000 sq m of investment properties across international and domestic cities with vibrant economies such as London , Beijing, Shanghai, Chengdu and Nanjing.

In 2010, China Overseas completed a merger and acquisition of a listed company in the same industry in Hong Kong, now known as “China Overseas Grand Oceans Limited” (Stock code: 00081.HK). In November 2015, China Overseas completed the spin-off and listing of its property management business (China Overseas Property Holdings Limited, “China Overseas Property”, stock code: 02669.HK). China Overseas Property was founded in 1986. By the end of 2016, China Overseas Property had received numerous industry accolades for its management services, which covered an area of around 93.5 million sq m across Hong Kong, Macau and mainland China.

Hua Yi Design, a wholly-owned subsidiary of China Overseas, was founded in 1986 in Hong Kong. Hua Yi Design is a “National High-tech Enterprise” that has attained “Grade A Architectural Design Qualification” and “Grade A Urban Planning Qualification”, with over 1,000 professional designers and offices in 10 cities in Beijing, Shanghai, Guangzhou, and Nanjing. Over the past 30 years, Hua Yi Design has built-up a portfolio of over 1,500 design projects across dozens of cities in Canada, Japan, Hong Kong, Macau and mainland China, where 160 of the projects have earned over 390 awards ranging from the state-level, provincial level and Shenzhen city-level, endorsing Hua Yi Design’s capabilities.

China Overseas embraces a people-oriented policy, striving to “align the growth of individuals with the long-term growth of the company”, seeking sustainable developments in both staff values and corporate operations, and has developed a “fair, genuine, transparent and positive” corporate culture. The two human resources management arms, “Sons of the Sea” and “Sea’s Recruits” of the Company, provide a fast-track for outstanding university graduates and talents in the society. The Company has established a systematic and sophisticated internal training mechanism, which allows continuous improvement in professional skills and work ethics of the employees. The talents in China Overseas are highly regarded in China’s real estate industry, and the Company was awarded “Top 10 Enterprises” for human resources management in China, among many other accolades.

China Overseas’ continuous efforts in carrying out corporate social responsibilities have been recognised by the communities. China Overseas was awarded “Best Practices for Corporate Social Responsibilities in China”, and “The Leading Socially Responsible Real Estate Company of the Year in China”. The Company has continuously sponsored building China Overseas Hope Schools. Currently there are 11 Hope Schools, located in Shaanxi, Sichuan, Chongqing, Jilin, Shandong, Ningxia, Zhejiang, Hunan and Liaoning, all of which are of high standards, in line with the “quality-conscious” philosophy of China Overseas.

As the team leader of the Green Real Estate Group of the China Green Building Committee, the Company has been relentlessly practicing and promoting the integration of modern technology with green construction. The Company completed the first full life-cycle green construction technology pilot project in 2014: the 233-2 International Community Project in Suzhou. The Company also continues to promote the green construction certification of its residential and commercial projects. As at the end of 2016, 47 projects had been certified, ranging from the Certification of Green Building Design Label, the US LEED Certification, and the UK BREEAM Certification, promoting the industry in the practice and development of green properties.

Going forward, China Overseas will continue to pursue a sustainable development strategy based on standardisation, specialisation and brand building. The Company will advance with the times, keeping innovation at the heart of operations, and continues to deliver quality properties, to develop together with its clients, shareholders, cities and communities a prosperous and long-lasting business.

# The cities where China Overseas Grand Oceans Group Limited “COGO” has operations; COGO also has projects in Beijing.

(Updated in April, 2017)
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Mr. YAN Jianguo - Chairman and Chief Executive Officer

Aged 50, graduated from Chongqing Institute of Architectural and Engineering (now known as Chongqing University) majoring in Industrial and Civil Construction in 1989 and obtained an MBA degree from Guanghua School of Management in Peking University in 2000. Mr. Yan joined China State Construction Engineering Corporation in 1989 and had been seconded to the Company twice. During the year 1990 to 1992, he had been working for the Shenzhen Branch of China Overseas Property Group and had held a number of positions, including site engineer and Department Head. He was assigned to the Company again from 2001 to 2011 and had been Assistant General Manager of Guangzhou Branch, Deputy General Manager of Shanghai Branch, General Manager of Suzhou Branch, General Manager of Shanghai Branch, Vice Managing Director of China Overseas Property Group and President of Northern China Region. Mr. Yan had worked in China State Construction Engineering Corporation from 2011 to June 2014 and had been Director of the General Office, Chief Information Officer and Assistant General Manager. Mr. Yan joined **Longfor Properties Co. Ltd. in June 2014 and resigned on 5 December 2016. During the period, he had held a number of positions including Executive Director and the Senior Vice President. Mr. Yan was appointed Executive Director and Chief Executive Officer of the Company from 1 January 2017, and is Chairman of the Company effective from 13 June 2017. Mr. Yan has about 27 years’ experience in construction business, real estate investment and management.

Mr. LUO Liang - Executive Director, Vice President and Chief Architect

Aged 52, graduated from Huazhong University of Science and Technology, holder of Master degree, Professor Level Senior Architect. He joined the Group in 1999. Mr. Luo has been appointed as Executive Director of the Company from 22 March 2007 and the Vice President of the Company in August 2009. Besides acting as the Executive Director, Vice President and Chief Architect of the Company, Mr. Luo is currently a Director of certain subsidiaries of the Group. He was also a Director of China Overseas Holdings Limited and certain of its subsidiaries. Mr. Luo has about 27 years’ architectural experience.

Mr. NIP Yun Wing - Executive Director and Chief Financial Officer

Fellow of the Hong Kong Institute of Certified Public Accountants
Fellow of the Association of Chartered Certified Accountants

 

Aged 62, graduated from the Department of Accountancy of The Hong Kong Polytechnic (now renamed as The Hong Kong Polytechnic University) and holds a Master of Business Administration degree from The Chinese University of Hong Kong. Mr. Nip joined the Company in March 2002 and was appointed Executive Director and Deputy Financial Controller in June 2002. Mr. Nip resigned on 17 September 2004 to further his own objective. He joined China Overseas Holdings Limited from 1 August 2006 as the General Manager of Finance and Treasury Department and was seconded to the Company to look after finance and treasury matters of the Group. Mr. Nip was appointed Executive Director and the Chief Financial Officer of the Company from 17 August 2009. Besides acting as the Executive Director and Chief Financial Officer of the Company, Mr. Nip is currently a Director of certain subsidiaries of the Group. Mr. Nip has extensive experience in corporate finance, investment and management and has served as an Executive Director for several listed companies in Hong Kong. Mr. Nip is an Independent Non-Executive Director and a Member of the Audit Committee of **Shenzhen International Holdings Limited.

Mr. CHANG Ying - Non-Executive Director

Aged 44, holds a Master degree from the University of New South Wales in Australia and a Master degree from Southeast University in the PRC. Mr. Chang was appointed as a Non-Executive Director of the Company from 15 September 2016. He joined CITIC Real Estate Co., Ltd. in April 2006 and was Executive Vice President of CITIC Real Estate Co., Ltd. and Managing Director and Chief Executive Officer of CITIC Real Estate (Beijing) Investment Co., Ltd. before 15 September 2016. He is currently the Deputy General Manager of Strategic Development Department of **CITIC Limited. Mr. Chang has about 17 years’ extensive experience in real estate and investment industry.

Mr. LAM Kwong Siu - SBS and GBS,
Independent Non-Executive Director

SBS and GBS,
Chairman of the Remuneration Committee,
Member of the Audit and Risk Management Committee,
Member of the Nomination Committee


Aged 82, joined the Board as an Independent Non-Executive Director of the Company on 30 September 2003 and has served the Company for about 13 years. Mr. Lam is also a Member of the Audit and Risk Management Committee (formerly Audit Committee and renamed on 19 October 2016), the Remuneration Committee and the Nomination Committee of the Company and has been appointed as Chairman of the Remuneration Committee of the Company on 3 August 2015. He was the Delegate of the Tenth National People’s Congress. He is the Vice Chairman of BOC International Holdings Limited, the Honorary Chairman of Hong Kong Federation of Fujian Associations, the Life Honorary Chairman of Hong Kong Fukien Chamber of Commerce, the Vice Chairman of Fujian Hong Kong Economic Cooperation, the Life Honorary Chairman of the Chinese General Chamber of Commerce, the Adviser of the Hong Kong Chinese Enterprises Association, the Honorary President of the Chinese Bankers Club of Hong Kong and the Director of Bank of China International Limited. Mr. Lam is also an Independent Non-Executive Director of **Fujian Holdings Limited, **Xinyi Glass Holdings Limited, **Yuzhou Properties Company Limited and **Far East Consortium International Limited. Mr. Lam has over 55 years’ continuous banking and finance experience.

Dr. FAN HSU Lai Tai, Rita - GBM, GBS, JP,
Independent Non-Executive Director

GBM, GBS, JP,
Chairman of the Nomination Committee,
Member of the Audit and Risk Management Committee,
Member of the Remuneration Committee


Aged 71, joined the Board as an Independent Non-Executive Director of the Company on 2 February 2009 and has served the Company for about 8 years. Dr. Fan is also the Chairman of the Nomination Committee and a Member of the Audit and Risk Management Committee (formerly Audit Committee and renamed on 19 October 2016) and the Remuneration Committee of the Company. She is one of Hong Kong’s best-known public figures and has an outstanding track record of service to the community. Dr. Fan was appointed to the Legislative Council from 1983 to 1992 and was a Member of the Executive Council from 1989 to 1992. She became the President of the Provisional Legislative Council in 1997, and has since been re-elected as the President of the First, Second and Third Legislative Council. Her term of office ended on 30 September 2008. Dr. Fan has served as President of the legislature of the Hong Kong Special Administrative Region (“HKSAR”) for 11 years.

In the lead-up to Hong Kong’s reunification with China, Dr. Fan played a valuable role as a Member of the Preliminary Working Committee for the Preparatory Committee for the HKSAR from 1993 to 1995 and of the Preparatory Committee for the HKSAR from 1995 to 1997. She was elected as a Hong Kong Deputy to both the Ninth and Tenth sessions of the National People’s Congress (“NPC”) between 1998 and 2007, was a Member of the Standing Committee of the Eleventh session of the NPC and is currently a Member of the Standing Committee of the Twelfth session of the NPC. Dr. Fan was elected the Chairman of the council of Endeavour Education Centre Limited from March 2016.

After graduating from St. Stephen’s Girls’ College, Dr. Fan studied at the University of Hong Kong, and was awarded a Bachelor degree in Science, and later on, received a Master degree in Social Science. She also received the Honorary Doctorate in Social Science from the University of Hong Kong, the City University of Hong Kong and The Hong Kong Polytechnic University respectively, and an Honorary Doctorate in Law from the China University of Political Science and Law of the People’s Republic of China. Her record of public service has been acknowledged by the HKSAR Government through the award of the Gold Bauhinia Star in 1998 and Hong Kong’s top award, the Grand Bauhinia Medal, in 2007.

She is also an Independent Non-Executive Director, a Member of the Audit Committee, the Nomination Committee and the Chairman of the Remuneration Committee of **COSCO SHIPPING Ports Limited (formerly known as COSCO Pacific Limited); an Independent Non-Executive Director, a Member of the Nomination Committee, the Audit Committee and the Chairman of the Remuneration Committee of **China Shenhua Energy Company Limited; an Independent Non-Executive Director, a Member of the Nomination Committee and the Chairman of the Remuneration Committee of **COSCO SHIPPING Holdings Co., Ltd. (formerly known as China COSCO Holdings Company Limited); and an Independent Non-Executive Director and the Chairman of the Remuneration Committee of **The Bank of East Asia, Limited.

Mr. LI Man Bun, Brian David - MA (Cantab), MBA, FCA, JP
Independent Non-Executive Director

MA (Cantab), MBA, FCA, JP,
Chairman of the Audit and Risk Management Committee,
Member of the Nomination Committee,
Member of the Remuneration Committee


Aged 42, joined the Board as an Independent Non-Executive Director of the Company on 19 March 2013 and was appointed Chairman and Member of the Audit and Risk Management Committee (formerly Audit Committee and renamed on 19 October 2016), Member of the Nomination Committee and Member of the Remuneration Committee on the same day. Mr. Li is an Executive Director & Deputy Chief Executive of **The Bank of East Asia, Limited (“BEA”), primarily responsible for BEA’s China and international businesses. Mr. Li joined BEA in 2002 and served as General Manager & Head of Wealth Management Division from July 2004 to March 2009. Mr. Li was subsequently appointed Deputy Chief Executive in April 2009 and Executive Director in August 2014.

Mr. Li is currently an Independent Non-Executive Director and Chairman of the Board Audit and Risk Committee of **Towngas China Company Limited, and an Independent Non-Executive Director of **Hopewell Highway Infrastructure Limited.

Mr. Li currently holds a number of public and honorary positions, including being a Member of the Twelfth National Committee of the Chinese People’s Political Consultative Conference, a Member of the Advisory Committee of the Securities and Futures Commission of Hong Kong, Chairman of the Traffic Accident Victims Assistance Advisory Committee of the Government of the Hong Kong Special Administrative Region (“HKSARG”), a Member of the HKSARG Aviation Development and Three-runway System Advisory Committee, and a Member of Market Development Committee, Financial Services Development Council of the HKSARG.

He is also a Member of the Hong Kong-Europe Business Council, a Member of the Hong Kong-Taiwan Business Co-operation Committee, a Member of Asian Financial Forum 2017 Steering Committee, a Committee Member of the Hong Kong Chapter, the Institute of Chartered Accountants in England and Wales (the “ICAEW”), a Member of the Inaugural Financial Consulting Committee for Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen, and a Council Member of The Hong Kong Management Association.

Mr. Li is a Fellow of the Hong Kong Institute of Certified Public Accountants and a Full Member of the Treasury Markets Association. He is also a Fellow of the ICAEW. He holds an MBA degree from Stanford University as well as MA and BA degrees from the University of Cambridge.

** Companies listed on The Stock Exchange of Hong Kong Limited

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WEBSITE

www.coli.com.hk

COMPANY INFORMATION

Listed Date 20 Aug 1992

Address 10/F, Three Pacific Place,
1 Queen’s Road East, Hong Kong

Telephone (852) 2823-7888

Facsimile (852) 2865-5939

No. of Click Rate

276051