China Overseas Property

China Overseas Property (hereinafter referred to as the "Company") is affiliated with China State Construction Engineering Corporation. It was founded in Hong Kong in 1979 and listed on the Hong Kong Stock Exchange in 1992 (stock code: 00688.HK, referred to as "China Overseas Land & Investment"). In 2007, it was included as a constituent stock of the Hang Seng Index. The Company has 42 years of experience in real estate development and real estate operation and management, with business spanning more than 70 cities in Hong Kong, Macao and mainland China, as well as multiple countries and regions including the United States, the United Kingdom, Australia and Singapore. In 2019, the Company's total assets reached RMB 723.9 billion, and net assets reached RMB 289.145 billion. In 2019, contracted sales amounted to HKD 377.17 billion, a year-on-year increase of 25.2%, and net profit was RMB 41.62 billion. Its profitability remained at the forefront of the industry, and its operating performance showed a sound and rapid growth trend.
The credit ratings assigned to the Company by the three major international rating agencies are: Moody's Baa1, Standard & Poor's BBB+, and Fitch A-. Its credit ratings remain at the forefront of the industry. It has been named a China Blue Chip Real Estate Enterprise and a China Real Estate Industry Brand for 17 consecutive years; it has been a constituent stock of the Hang Seng Corporate Sustainability Index for 10 consecutive years; in 2020, China Overseas Property's brand value reached RMB 121.6 billion, firmly ranking at the forefront of the real estate industry.
The Company positions itself as an international real estate development and operation group, and insists on being a "Four Good" company, namely "good products, good services, good benefits, and good citizenship"; adheres to the product design philosophy of "enjoyable space, smart IoT, green technology, healthy life+"; adheres to the development philosophy of "process excellence, building excellence"; adheres to the customer service philosophy of "customer first, steady progress"; and has created and operates three human resources brands, "Hai Zhi Zi", "Hai Zhi Xing" and "Hai Na", recruiting outstanding university talents and social elites, and building a systematic talent training mechanism to provide talent assurance for the Company's sustainable development.

China Overseas Grand Oceans Group Limited (hereinafter referred to as "China Overseas Grand Oceans") was formerly Shell Electric Manufacturing (Group) Company Limited, which was established in 1955 and listed on the Hong Kong Stock Exchange in 1984. In March 2010, China Overseas Land & Investment Limited (00688.HK, hereinafter referred to as "China Overseas Land & Investment") completed the acquisition of Shell Electric Manufacturing (Group) Company Limited and officially renamed it China Overseas Grand Oceans Group Limited (00081.HK). Through China Overseas Grand Oceans, China Overseas Land & Investment extended its real estate development business to second- and third-tier cities, rapidly completing its nationwide strategic layout.
China Overseas Grand Oceans and China Overseas Land & Investment share the same external promotion brand—China Overseas Property. China Overseas Grand Oceans and China Overseas Land & Investment are of the same origin: integrated management philosophy, inherited corporate culture, shared strategic resources, complementary business operations, consistent training system, and normalized personnel mobility.
China Overseas Land & Investment's city layout is mainly in first- and second-tier cities, while China Overseas Grand Oceans' city layout is mainly in weak second-tier and strong third-tier cities (clusters). Together they have created the strategic layout of China Overseas Property. As of now, it has entered 38 mainland cities (excluding cities covered by holding-type properties), spanning four major regions: South China, East China, West China and North China.
South China (11 cities): Nanning, Guilin, Liuzhou, Ganzhou, Jiujiang, Shantou, Quanzhou, Huizhou, Qingyuan, Zhuzhou, Zhanjiang
East China (12 cities): Hefei, Shaoxing, Huangshan, Yangzhou, Taizhou, Nantong, Changzhou, Yancheng, Xuzhou, Danyang, Jinhua, Anqing
West China (6 cities): Lanzhou, Xining, Yinchuan, Weinan, Zunyi, Tianshui
North China (9 cities): Hohhot, Baotou, Jilin, Jining, Weifang, Zibo, Langfang, Tangshan, Linyi
China Overseas Grand Oceans takes sales-type properties as the main body, with holding-type properties and innovative properties as the two wings, and has initially formed a business system of "residential real estate development as the main body, long-term holding of core commercial properties, and exploration of emerging tourism town real estate", holding a total of 3 five-star resort hotels, 4 office buildings, 1 shopping center and 3 tourism town projects.
In terms of management, China Overseas Grand Oceans implements a "headquarters-region" two-level control system, and adheres to the "1+N" management model at the regional level; in terms of operations, it takes projects as the core and implements the "1+7" project director system, "rapid supply, promoting synergy, performance achievement", to improve project turnover efficiency; in terms of teams, it operates the three human resources brands "Hai Zhi Zi", "Hai Zhi Xing" and "Hai Na", recruiting outstanding university talents and social elites, and building a systematic talent training mechanism to provide talent assurance for the Company's sustainable development.
Looking ahead, China Overseas Grand Oceans is committed to achieving the following strategic goals: achieving quality growth and striving to achieve the RMB 100 billion target as soon as possible; focusing on economic benefits and achieving stable compound profit growth; and achieving improvements in employee satisfaction, customer satisfaction and shareholder satisfaction.