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China Overseas Land & Investment Ltd - Stock Quote 00688

Rating as of

Morningstar's China Overseas Land & Investment Ltd Stock Analysis

Valuation
Currency in HKD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

China Overseas Land's Q1 Numbers Held Steady, Contracted Sales Down but in Line With Weak Market

Cheng Wee Tan Senior Equity Analyst

Analyst Note

| Cheng Wee Tan |

While there are limited details provided in China Overseas Land & Investment’s first-quarter 2022 business review and financial performance update, the headline numbers continue to show the company’s steady performance and healthy financial position considering heavy sector headwinds. We maintain our fair value estimate of HKD 28.50 per share and no moat rating. We reiterate our preference for China Overseas Land as one of our fundamental picks within the sector given its stronger financial resources, which means less pressure to deleverage and it could take on asset sale opportunities, acquiring assets from peers, which are consolidating or in liquidity stress.

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China Overseas Land & Investment Ltd's Company Profile

Business Description

China Overseas Land & Investment, or COLI, is a large real estate developer in China. Property development accounts for most of its core earnings, with operating scale at about three times the size of midsize peers by contracted sales. In addition to property development, COLI targets growth in its commercial property portfolio with a dual focus on offices and shopping malls for recurring income. The company is a subsidiary of China State Construction Engineering, China's largest construction company. COLI holds a 38% stake in China Overseas Grand Oceans, a real estate developer focusing on lower-tier Chinese cities.

Contact
1 Queen's Road East, 10th Floor, Three Pacific Place
Hong Kong, Hong Kong
T +852 29880666
Sector Real Estate
Industry Real Estate - Development
Most Recent Earnings
Fiscal Year End Dec 31, 2022
Stock Type
Employees 5,692