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    China Overseas Property Holdings Limited Announces Interim Results for 2020

    Press time:2020-08-20    Author:China Overseas Property Holdings Limited

             (Hong Kong, 20 August 2020) China Overseas Property Holdings Limited (hereinafter referred to as “China Overseas Property” or “the Group”, HKSE code: 02669.HK) is pleased to announce its unaudited interim results for the six months ended 30 June 2020.

    During the six months ended 30 June 2020, total gross floor area (“GFA”) under our management increased by 10.2% to 157.5 million sq.m. from 142.9 million sq.m* at the end of last corresponding period. New/renewed property management contracts secured during the first half of 2020 amounted to a total contract sum of approximately HK$2,079.0 million; Revenue increased by 18.0% to HK$2,850.1 million, comparing to HK$2,414.5 million* in the last corresponding period. Operating profit increased by 10.4% during the first half of 2020 against last corresponding period to HK$392.1 million for the period (2019: HK$355.2 million*); Profit attributable to owners of the Company for the six months ended 30 June 2020 increased by 12.0% to HK$280.0 million against the last corresponding period (2019: HK$250.0 million*). Basic and diluted earnings per share was HK8.52 cents (2019: HK7.61 cents*), increased by 12.0%; The Board declared the payment of an interim dividend of HK2.2 cents per share (2019: HK2.2 cents per share) for the six months ended 30 June 2020.

    As an avant-garde in the property management industry in China with first-class qualifications, COPL was established in Hong Kong in 1986 and set foot in Chinese Mainland in 1991. With the vision “To be an Outstanding Global Service Provider in Asset Management” and the mission “Creating More Beautiful Spaces to Embrace a Better Life” (拓展幸??臻g,服務美好生活), COPL provides customers from various industries with standardised, detailed, professional and customised services by staying devoted to the service tenet “Property Assets to be Entrusted” and following the development strategy “One Base (basic property management services as the foundation), Two Wings (quality management and operating scale as the pair of wings) and Four Drivers (UN+ (優你互聯), Xinghai Wulian (興海物聯), asset management, investment and merger & acquisition as the drivers)”.

    Currently, COPL has 21 city-based companies, with businesses distributed in 114 major cities in the People’s Republic of China (“PRC”) and approximately 42,710 employees. The types of properties under management include boutique residential buildings, commercial complexes, a plus-grade office buildings, government properties, industrial parks and others. With 200 pre-sales sites projects, 851 property management projects and nearly 157,500,000 square meters (“sq.m.”) of service area, COPL serves over 100 corporate customers who are the world’s top 500 companies and becomes the most reliable business partner of central enterprises, state-owned enterprises and private enterprises. In the first half of 2020, it was named as “Top 10 Listed Property Service Enterprises 2020” and “2020 China TOP 20 Property Management Service Enterprises with Outstanding Operating Performance(2020 中國物業服務企業運營表現 TOP20), and was included in Morgan Stanley Capital International Index (MSCI) China Index as a constituent in May 2020. COPL received high recognition of the capital market.

    However, the pandemic continues to spread in the world and hit the world’s economy with continuing evolution. External risks are rising significantly, and China’s economy is faced with greater slowdown pressure and obviously increasing uncertainty and instability, which hinders the economic cycle and leads to a year-on-year decrease of 1.6% in GDP of the first half. Nevertheless, China’s economy, on the whole, has gradually overcome the negative impact of the pandemic in the first half, and the economy returns to positive growth in the second quarter from a negative one and takes on the steady recovery, in spite of some declining indicators, losses caused by the epidemic to be offset and the pressure on full economic recovery. Facing the current challenges and opportunities, the Group, leveraging its efforts of over 30 years and the strong brand and market leading position established through deep cultivation, will develop strategies, forge ahead with confidence and courage, stick to the goal of strengthening the leading position in the industry

     

     

     

    * Note: Upon adoption of merger accounting method affected by the acquisition of a subsidiary in 2019, thecomparative figures of the last corresponding period were restated accordingly.

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