2013 Annual Results 13 March 2014 Content
Annual Results
Business Review
Market Analysis
Guidance & Strategy
2 Annual Results
3 Financial Summary Turnover (HK$ mn) 82,469 64,581 51,332 Unit 2013 2012 Change 46,650 39,278
Turnover HK$ Million 82,469.1 64,580.7 27.7%
Turnover(including 09 10 11 12 13 share of turnover of HK$ Million 100,472.5 77,907.9 29.0% JVs) Net Profit (HK$ mn) 23,044 Gross Profit HK$ Million 26,822.0 24,725.2 8.5% 18,722 15,464 12,671 Net Profit HK$ Million 23,043.7 18,722.2 23.1% 7,646
Gross Margin Percentage % 35.1* 38.3 - 3.2 ppts 09 10 11 12 13
DPS (HK cents) Net Profit Margin Percentage % 27.9 29.0 -1.1 ppts 47 39 ** 33 27 EPS HK cents 282.0 229.0 23.1% 20
DPS HK cents 47.0 39.0** 20.5% 09 10 11 12 13
Note:*Excluding affordable housing and the three projects repurchased from the fund. 4 **Excluding the special dividend of HK$2 cents per share paid last year. Financial Summary (cont’d) Shareholder’s Equity (HK$ bn) 110.0
87.2 71.6 55.6 Unit 31/12/2013 31/12/2012 Change 42.6
Cash on Hand HK$ Million 41,479 40,932 1.3% 09 10 11 12 13
L/T Debt HK$ Million 69,397 53,243 30.3% ROE (%) 25.8 24.3 Shareholders' 23.6 23.4 HK$ Million 109,971 87,244 26.0% 20.1 Equity
Net Gearing (%) Percentage % 28.4 20.5 7.9 ppts
09 10 11 12 13 Liabilities/Assets ROA(%) Percentage % 62.5 61.9 0.6 ppts (%) 9.2 9.1 9.2 8.8
ROE(%) Percentage % 23.4 23.6 -0.2 ppts 7.7
ROA(%) Percentage % 8.8 9.2 -0.4 ppts 09 10 11 12 13 5 Segment Results Highlights Property Development Turnover by Region Property Development Operating Profit by Region
HK & HK & Macau Macau 6.5% 6.5% Western Hua Nan Region Hua Nan Region Western 14.4% Region 32.4% Region 31.9% 19.8%
Northern Northern Region Region 16.9% 9.0%
Hua Dong Hua Bei Hua Dong Hua Bei Region Region Region Region 15.4% 13.0% 19.8% 14.4%
Total Property Development Turnover: HK$ 78,615 million Property Development Operating Profit: HK$ 23,542 million
Turnover Segment Profit (HK$ million) (HK$ million)
2013 2012 Change 2013 2012 Change
Property Development 78,615 61,407 28.0% 27,316 25,152 8.6%
Property Investment 857 585 46.5% 4,204 4,147 1.4%
Others 2,997 2,589 15.8% 221 136 62.5%
Total 82,469 64,581 27.7% 31,741 29,435 7.8%
6 Financial Updates Corporate ratings Company Type Ratings Last Rating Date Last Credit Rating Action
S&P Issuer Credit Ratings BBB+ 23-Oct-2013 Outlook STABLE
Moody’s Issuer and Bond Ratings Baa1 23-Oct-2013 Outlook STABLE
Fitch Issuer and Bond Ratings BBB+ 23-Oct-2013 Outlook STABLE
Comments Ratings reflect COLI's leading market position in China's property sector, including its track record for business execution through the cycle and its strong cash flow.
In February 2013, Fitch Ratings initially assigned China Overseas Land & Investment Ltd (COLI) a Long Term Issuer Default Rating (IDR) of ‘BBB+’ with Stable Outlook and a senior unsecured debt rating of ‘BBB+’.
In April 2013, S&P and Moody’s upgraded the issue rating on the company's outstanding senior unsecured notes to 'BBB+' from 'BBB‘ and ‘Baa1’ from ‘Baa2’ respectively.
In October 2013, COLI successfully priced USD 1.5 billion triple-tranche 5/10/30- year offering at interest rate of 3.375%, 5.375% and 6.375% respectively. This is the biggest USD Reg S bond issued by a China Company.
7 Financial Resources & Debt Structure
Interest bearing debts by currency Debt maturity profile 12.0% Within 1 5-10 10+ $HK mn 1-5 years year years years
Bank 42.3% RMB 3,303 36,708 - - borrowings US$ HK$ Bonds - 9,637 16,911 6,140 45.7% Subtotal 3,303 46,345 16,911 6,140 Percentage 5% 64% 23% 8% Bank balance and cash by currency
Amount (HK$ billion) 9.6% Bank balance and cash 41.48 15.2% Unused credit facilities 8.76 RMB US$ Total 50.24 HK$ 75.2% The weighted average borrowing cost* 3.7%
* Total finance costs divided by the weighted average borrowing 8 Business Review
9 2013 Property Sales
1.1% 0.1%
15.3% 23.7% 18.6% Hua Nan Region 24.8% Hua Dong Region 14.2% Hua Bei Region Northern Region 20.4% Western Region HK & Macau 14.0% 31.7% 24.5% 11.6%
Contracted sales in value by region Contracted sales in GFA by region
Hua Dong Hua Bei Northern Western Region Hua Nan Region HK & Macau Total Region Region Region Region Subscription GFA* 17.87 26.68 11.67 11.42 11.74 0 79.38 (‘0000sq.m.) Subscription amount* 41.70 53.74 53.98 13.80 22.13 0 185.35 (HK$’00mn) *As at the end of Dec 2013
In 2013, the total property contracted sales amounted to HK$138.5 billion and the total contracted GFA reached 9.2 million square meters. As at the end of December 2013, the property subscription sales amounted to HK$18.5 billion and the subscription GFA reached 793,800 square meters. 10 2014 Property Sales Updates
Contracted property sales Contracted area sold GFA (HK$’00 million) (‘0000 sq.m.) The Company and its subsidiaries Regional Breakdown Hua Nan Region 62.77 31.18 Hua Dong Region 52.41 28.62 Hua Bei Region 39.90 10.30 Northern Region 24.21 22.13 Western Region 19.95 10.01 Hong Kong and Macau 0 0 Sub-total for the Company and its 199.24 102.24 subsidiaries Jointly-controlled entities of the Company 30.30 19.28 Associated companies of the Company 13.66 15.02 Total 243.20 136.54
From January to February 2014, the accumulated contracted property sales of the China Overseas Series of Companies amounted to approximately HK$24.32 billion and the accumulated corresponding GFA sold was approximately 1,365,400 square meters. As at 28 February 2014, the China Overseas Series of Companies had recorded subscribed property sales of approximately HK$7.791 billion, which are expected to be turned into contracted property sales in the following months. 11 Project Completed in 2013
COLI projects completion City Project name GFA(㎡) A total of 35 projects and 10 JV Shenzhen Southern Garden(阅景馨园) 232,908 projects were completed in 2013. Zhongshan Dragon Bay(龙湾国际) 188,763 Golden Sand Coast (金沙湾) 148,803 Foshan #1 Lake Lantern(千灯湖一号) 256,790 Total Gross Floor Area (GFA) completed 2 Changsha International Community(国际社区) 280,552 was 6.0 and 2.4 million m respectively. Xiamen La Cite(寰宇天下) 131,836 Glory City(誉城) 262,603 About 84.4% and 72.6% of the total Guangzhou The Piedmond (雲麓公馆) 77,410 2 Blossom Cove(花城湾) 95,309 saleable GFA m completed was sold by Residence Nine(九号公馆) 286,783 31 December 2013 respectively. Beijing Laogucheng(老古城) 61,954 Jinan International Community(国际社区) 298,944 Orichid Garden(中海兰庭) 173,585 Royal Court(紫御华府) 164,522 Changchun Golden Violet(紫金苑) 149,910 International Community(国际社区) 20,759 Qingdao International Community(国际社区) 601,765 Dalian Violet Palace(紫御观邸) 62,755 COLI City(中海城) 223,279 Shenyang International Community(国际社区) 58,832 Yantai Windsor Pavilion(紫御公馆) 248,210 The Majestic(万锦熙岸) 107,281 Nanjing The Phoenix(凤凰熙岸) 111,541 International Community, Nanjing 12 Project Completed in 2013 Project completion by region
City Project name GFA(㎡) 1% Rayal Bay(御景湾) 142,754 Suzhou International Community(国际社区) 369,122 21% 23% Lohas Island(独墅岛) 27,768 Hua Nan Region Nanchang Sunrise Manor(朝阳郡) 43,440 Hua Dong Region International Community(国际社区) 271,782 Xi'an Hua Bei Region Royal Masion(紫御华府) 287,942 Northern Region Chengdu Southern Mansion(城南华府) 326,621 桃花源 20% Western Region The Wonderland ( ) 81,184 22% Zhuhai Midtown(富华里) 105,033 Hong Kong and Macau Silver Bay(银海湾) 42,047 13% The Grandeur(龙苑) 6,175 Hong Kong The Green(歌赋岭) 35,196 Subtotal: 5,984,158 COLI JV projects completion No. of Project completion by region City Project name GFA(㎡) Tianjin Peaceland Cove(北宁湾) 186,753 Jinan Dragon Manor(奥龙官邸) 65,624 2 5 Wuhan The Glorious(万锦江城) 186,960 12 Hua Nan Region Ningbo Elegant Palace (凯旋门) 270,412 Hua Dong Region Shanghai The Amethyst(紫御豪庭) 301,276 Hua Bei Region La Cite(寰宇天下) 334,520 9 Hangzhou Northern Region The Tudor(篁外) 82,246 Suzhou Gusu Mansion(姑苏公馆) 81,497 Western Region International Community(国际社区) 874,753 Hong Kong and Macau Chongqing 11 La Cite(寰宇天下) 12,051 6 Subtotal: 2,396,092 Total: 8,380,250 13 Property Unbooked, Sales Presold & Booked GFA & Amount* 2012 Unbooked Sales 2013 Property Sales 2013 Booked Property Sales Presold Property unbooked
408 637 759 1,213 732 1,111 435 739
962 786
618 540 486 662
314 392 325 251 151 141 192 94 43 77 GFA('0000sq.m.) Amount(HK$'00mn) GFA('0000sq.m.) Amount(HK$'00mn) GFA('0000sq.m.) Amount(HK$'00mn) GFA('0000sq.m.) Amount(HK$'00mn)
JV 688
Note: *Excluding subscription sales and COGO’s property sales 14 Land Acquisitions in 2013
Attributable Land Area Land Cost No. Date City Name of Project Total GFA (m2) Attributable GFA (m2) Interest (m2) (RMB mn) 1 7/1/2013 Kunming Guandu District Project 65% 172,634.96 377,061.00 245,089.65 504.95 2 10/1/2013 Beijing Shijingshan District Project 100% 38,097.08 159,648.00 159,648.00 2,018.00 3 19/2/2013 Nanjing Jiangning District Project 100% 234,058.70 931,382.00 931,382.00 2,806.00 4 15/5/2013 Xi'an Qujiang New District Project 100% 134,440.00 584,321.00 584,321.00 710.65 5 16/5/2013 Changchun Nanguan District Project 100% 69,723.00 188,189.00 188,189.00 317.68 6 29/5/2013 Jinan Gaoxin District Project 100% 101,883.30 286,994.00 286,994.00 918.00 7 4/6/2013 Shengyang Dongling District Project 100% 236,086.09 546,452.00 546,452.00 859.30 8 5/6/2013 Hong Kong Kai Tak Project 100% 16,356.00 81,780.00 81,780.00 3,616.56* 9 25/6/2013 Hangzhou Jianggan District Project 100% 15,207.00 90,919.00 90,919.00 1,170.57 10 3/7/2013 Changchun Jingyue District Project 100% 108,906.00 337,577.00 337,577.00 545.89 11 11/7/2013 Shanghai Minhang District Project 100% 78,981.50 242,943.00 242,943.00 3,700.00 12 12/7/2013 Shanghai Songjiang District Project 100% 113,937.10 166,186.00 166,186.00 1,154.00 13 7/8/2013 Harbin Haxi District Project 100% 99,843.10 384,289.00 384,289.00 930.00 14 16/8/2013 Foshan Nanhai District Guicheng Street Project 100% 38,078.20 170,854.00 170,854.00 904.50 15 11/9/2013 Ningbo Jiangdong District 2# Project 100% 53,624.00 151,003.00 151,003.00 1,344.89 16 12/9/2013 Ningbo Dongqian Lake Project 100% 123,290.00 236,723.00 236,723.00 859.95 17 27/9/2013 Ningbo Jiangdong District 1# Project 100% 35,388.00 92,345.00 92,345.00 785.61 18 16/10/2013 Shenzhen Longhua New District 100% 52,460.10 366,375.00 366,375.00 3,820.00 19 30/10/2013 Yantai Gaoxin District Project 100% 451,573.65 1,379,651.00 1,379,651.00 1,815.88 20 5/12/2013 Fuzhou Gaoxin District Project 100% 174,308.71 730,080.00 730,080.00 3,912.00 21 13/12/2013 Shenyang Heping District Project 100% 536,966.50 2,296,238.00 2,296,238.00 4,600.74 22 30/12/2013 Wuxi Binhu District Project 51% 185,731.50 613,219.00 312,741.69 1,924.90 23 30/12/2013 Foshan Jinshazhou District Project 100% 66,501.20 320,091.00 320,091.00 2,095.00 24 31/12/2013 Changchun Jingkaibei District Project 100% 626,000.00 1,375,341.00 1,375,341.00 1,263.29 Subtotal: 3,764,075.69 12,109,661.00 11,677,212.34 42,578.36 Land acquisitions of COGO: 1,617,404.92 4,555,315.12 4,446,787.27 8,700.35 Total: 5,381,480.61 16,664,976.12 16,123,999.61 51,278.71 * Exchange rate of HK$ to RMB is 0.7966 15 Land Acquisitions in 2014
Attributable Land Area Total GFA Attributable Land Cost No. Date City Name of Project Interest (m²) (m²) GFA (m²) (RMB mn) 1 9/1/2014 Dalian Ganjingzhi District Project 100% 95,530.70 184,465.00 184,465.00 378.52 2 17/1/2014 Jinan Licheng District Huashan Project 100% 599,506.00 1,782,359.00 1,782,359.00 3,162.92 3 23/1/2014 Foshan Nanhai District Guicheng Project 100% 65,561.80 276,103.40 276,103.40 1,045.05 4 10/2/2014 Qingdao Jimo City Tianheng Town Project 100% 872,007.30 1,106,881.00 1,106,881.00 915.33 5 19/2/2014 Zhengzhou Jinshui District Project 100% 66,121.05 271,850.00 271,850.00 1211.70 6 21/2/2014 Guangzhou Liwan District Project* 100% 139,915.00 1,060,466.00 1,060,466.00 9,599.35 7 28/2/2014 Harbin Qunli New District Project 100% 183,093.50 602,899.00 602,899.00 1,260.00 subtotal: 2,021,735.35 5,285,023.40 5,285,023.40 17,572.87 Land acquisition of COGO: 703,346.14 2,703,033.95 2,703,033.95 4,161.37 Total: 2,725,081.49 7,988,057.35 7,988,057.35 21,734.24 *The project requires to build relocation housing with a GFA of 212,400 m².
16 COLI Current Landbank
Region NO. City GFA(m²) % Att. GFA(m²) % 1 Shenzhen 645,728 1.5% 645,728 1.5% 2 Zhongshan 241,950 0.5% 241,950 0.6% Hua Nan Region 3 Guangzhou 1,998,763 4.5% 1,910,735 4.6% Hua Dong Region 4 Foshan 2,667,485 6.1% 2,667,485 6.4% Hua Nan Region Hua Bei Region Harbin 5 Changsha 739,604 1.7% 739,604 1.8% 6 Xiamen 267,194 0.6% 142,391 0.3% Northern Region 7 Fuzhou 730,080 1.7% 730,080 1.8% Western Region Changchun 8 Zhuhai 1,146,530 2.6% 1,146,530 2.8% HK & Macau Subtotal: 8,437,334 19.2% 8,224,503 19.7% 9 Suzhou 1,787,152 4.1% 1,787,152 4.3% Shenyang 10 Nanjing 1,695,803 3.8% 1,695,803 4.1%
11 Ningbo 1,647,436 3.7% 1,560,077 3.7% Beijing Dalian Hua Dong Region 12 Hangzhou 1,202,062 2.7% 959,141 2.3% Tianjin 13 Nanchang 394,300 0.9% 394,300 0.9% Yantai 14 Shanghai 809,190 1.8% 659,829 1.6% Jinan Qingdao 15 Wuxi 613,219 1.4% 312,742 0.8% Subtotal: 8,149,162 18.5% 7,369,043 17.7% Zhengzhou 16 Changchun 2,777,592 6.3% 2,777,592 6.7% Xi’an 17 Qingdao 2,431,673 5.5% 2,431,673 5.8% Nanjing Wuxi 18 Dalian 730,127 1.7% 730,127 1.8% Shanghai Northern Region Suzhou 19 Shenyang 7,677,044 17.4% 7,677,044 18.4% Chengdu Wuhan 20 Yantai 1,617,628 3.7% 1,617,628 3.9% Hangzhou Ningbo 21 Harbin 987,188 2.2% 987,188 2.4% Chongqing Subtotal: 16,221,252 36.8% 16,221,252 38.9% Nanchang 22 Beijing 159,648 0.4% 159,648 0.4% Changsha Fuzhou 23 Tianjin 623,130 1.4% 574,015 1.4% Hua Bei Region 24 Jinan 4,220,342 9.6% 4,220,342 10.1% Kunming 25 Wuhan 359,440 0.8% 284,670 0.7% Guangzhou Xiamen Foshan 26 Zhengzhou 271,850 0.6% 271,850 0.7% Shenzhen Zhongshan Subtotal: 5,634,410 12.8% 5,510,525 13.2% Hong Kong Zhuhai 27 Chengdu 988,980 2.2% 988,980 2.4% Macau 28 Xi'an 1,467,949 3.3% 1,467,949 3.5% Western Region 29 Chongqing 2,323,522 5.3% 1,206,910 2.9% 30 Kunming 610,661 1.4% 478,690 1.1% Subtotal: 5,391,112 12.2% 4,142,529 9.9% 31 Hong Kong 110,429 0.3% 110,429 0.3% Hong Kong & Macau 32 Macau 112,057 0.3% 112,057 0.3% Subtotal: 222,486 0.5% 222,486 0.5% 17 Total: 44,055,756 100.0% 41,690,338 100.0% Investment Property
COLI’s Investment Property at the end of 2013 (ex COGO)
Total Investment Property GFA *(mn sq.m.) 2.6 Number of Unipark Shopping Malls* 4 Number of Cities Entered in mainland of China* 10 Total Rental Income(HKD mn) 860 *Note: Including investment property that are completed and under construction Investment Property by Completion Progress
GFA of Investment Property Leased out The Investment Property 23%
GFA of Investment 77% Property under Construction
Shopping Mall- Unipark Office Building GFA of Investment property by region 2% Hua Nan Region 17% Hua Dong Region 33% Hua Bei Region 7% Northern Region Western Region HK&Macau
8% 33% 18 Market Analysis
19 China Economic Outlook
Ensuring Steady Growth 7.5% GDP Growth Rate 13% M2 Growth Rate Sustainable Economic Growth 3.5% CPI Growth Rate Adjusting The Structure + 10million urban jobs newly added Livelihood Improvement Less than 4.6% of registered urban unemployment rate Advancing Reform
The Uptrend of GDP&M2 Proportion of industrial value added 30.00% 100%
25.00% 80%
20.00% 60%
15.00% 40% 13% 20% 10.00% 7.5% 0% 5.00% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
0.00% Value added of the primary industry 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014E Value-added of the secondary industry M2 Growth GDP Growth Value-added of the tertiary industry
Source:NBS, PBOC 20 Financial Market Liquidity
The Trend of Loans &M2 New Loans distribution by Quarter 120 100%
100 80%
80 60% 60 40% 40 20% 20 0% 0
The First Quarter The Second Quarter M2(tn. RMB) Total loans(tn. RMB) The Third Quarter The Fourth Quarter
Household Deposits &Loans 50 In 2014, the official growth target of M2 is affirmed 45 to be 13% that will encourage an appropriate 40 increase of monetary credit, and ensure the proper 35 liquidity. 30 25 New loans will be distributed in a more balanced way, 20 and are expected to remain steady or slightly 15 10 fluctuate by quarter. 5 0 Residents’ deposit balance remains well above 2008.01 2009.01 2010.01 2011.01 2012.01 2013.01 the loan balance so as to resist any type of liquidity
Deposits of Households(tn. RMB) Loans to Households(tn. RMB) risk. Source:NBS, PBOC 21 Financial Market Liquidity Cont’d Shanghai Interbank Offered Rate (Shibor) by Week China’s Trust Loan Scale
9% 500 100% 8% 450 90% 7% 400 80% 350 70% 6% 300 60% 5% 250 50% 4% 200 40% 3% 150 30% 100 20% 2% 50 10% 1% 0 0%
0%
2013/1 2013/2 2013/3 2013/4 2013/5 2013/6 2013/7 2013/8 2013/9 2014/1 2014/2 2014/3
2013/10 2013/12 2013/11 Trust loans(bn. RMB) Trust loans/AFRE RMB vs USD Ten Year US Treasury Bond Rate Movement 6.13 3.5%
6.12 3.0% 2.5% 6.11 2.0% 6.1 1.5% 6.09 1.0% 6.08 0.5%
6.07 0.0%
2013/4 2013/7 2013/1 2013/2 2013/3 2013/5 2013/6 2013/8 2013/9 2014/1 2014/2 2014/3
2013/10 2013/11 2013/12
Source: CFETS, CBOC, U.S. Department of the Treasury 22 Investment & Financing Management
Onshore Funding Central Funding Pool Land Acquisition
Funding Investment
Offshore Funding M&A
Long-term partnership at Receipts “head” level with major determine commercial banks payments
Fundraising Proper Financing To balance cash Strong balance Corporate Ratings Platforms Onshore Cost inflow and outflow sheet and Offshore
BBB+/S&P Total Land Payment Onshore Financing: 88% HK$ 5.9 bn Net Gearing: 28.4% Baa1/Moody’s Average cost of 3.7% Offshore Financing :12% Construction Cost Cash/Total Asset: 14% BBB+/Fitch HK$3.6 bn
Source: Data from 2013 corporative financials 23 Dividends of Urbanization
China’s Urbanization Rate, GDP Growth Rate & Property Sector’s Contribution China Urbanization Trend 60% 80% 70% 50% 60% 40% 50% 30% 40% 30% 20% 20% 10% 10% 0% 0% 0 1000 2000 3000 4000 5000 6000 7000 8000 9000 10000 GDP per capita (USD)
Urbanization Rate Urbanization rate - International standards Real GDP Growth Total GDP Contribution from Property Sector Urbanization rate - China
It is estimated that the urbanization rate will reach 70% with 1 billion urban population. A one percent rise in the urbanization growth rate brings about an additional 7 trillion RMB investment demand per year. Urbanization process will continuously lead the property market into experiencing a sustainable growth period, along with enormous development opportunities.
24 Property Sector Outlook
China’s Housing Land Supply(‘0000 hectare) Housing Investment (RMB’00 mn) 16 70,000
14 60,000
12 50,000 10 40,000 8 30,000 6 20,000 4 10,000 2 0 0 2008 2009 2010 2011 2012 2013
14,000 Total Sales of Residence Housing in China 12,000 10,000 8,000 Average annual home 6,000 sales in GFA are expected 4,000 to be approximately 1 bn 2,000 sq.m. in the next decade. 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Residence Sales in GFA ('00,000 Sq.m.) Residence Sales in Value (bn RMB) 25 Value Chain Management & Execution Capability
Planning & Starting Completion & Property Land Acquisition Marketing Designing Construction Occupation Management
Prime location Architectural Quality and cost Sale though 50% fine ISO 14001 Urban Planning controlling on rate > 70% decoration ROI>15% OHSAS18001 double class A Material COLI’s IRR>21% qualification Purchasing professional Quality Marketing team Contractor
6-8 Months 6-8 Months 12-18 Months Lifetime Service
Conduct delicacy management at every step of Sustainable Growth the value chain in property development, including land acquisition, master planning, construction, marketing and custom service.
Consolidate and enhance the brand image of “China Overseas Property” and “China Overseas Property Management”.
Pursue a sustainable growth model in three ways: Joint Venture Organic Growth M&A organic growth, joint venture and M&A.
26 Guidance & Strategy
27 Guidance for 2014
2014 Guidance 2013 Guidance 2013 Actual
Net profit growth 20% 20% 23.1%
Project Completion (million 10 9 8.4 Sq.m. ) New Project Commencement 12 10.8 12 (million Sq.m. )
Property Sales (HK$ billion ) 140 120 138.5 (Revised up from 100) New Land Acquisition (million 10 8 12.1 Sq.m. )
Total Capex* (HK$ billion) 110 102 94.8
- Outstanding Land Payment* 14 22 19.3 (HK$ billion) - New Land Acquisition* 50 30 39.4 (HK$ billion) - Projects Construction* 46 50 36.1 (HK$ billion) *Including share of joint ventures 28 Property Completion Estimate by Region in 2014 Property completion by region in 2014 GFA Completion Region 0.4% (‘000 m2)
Hua Nan Region 11.9% 2,483 24.8% 7.8% Hua Dong Region 2,536
Northern Region 2,978 29.8% Hua Bei Region 25.4% 778
Western Region 1,187 Hua Nan Region Hua Dong Region Hong Kong and Macau Northern Region Hua Bei Region 39 Western Region Hong Kong and Macau Total 10,001
29 Thank you! Q & A
30 Disclaimer
These materials have been prepared by China Overseas Land and Investment Ltd. (“COLI” or the “Company”) solely for information use during its presentation may not be reproduced or redistributed to any other person without the permissions from COLI. By attending this presentation, you are agreeing to be bound by the foregoing restrictions.
It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the company’s financial or trading position or prospects. The information and opinions in these materials are provided as at the date of this presentation and are subject to change without notice. None of the Company nor any of its respective affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of these materials.
The information in this material contains certain forward-looking statements. These include statements regarding outlook on future development schedules, business plans and expectations of capital expenditures.
These statements are based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated by the Company.
The materials and information in the presentations and other documents are for informational purposes only, and are not an offer or solicitation for the purchases or sale of any securities or financial instruments or to provide any investment service or investment advice.
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