Formerly known as Tonic Industries Holdings Limited (Tonic Industries), China Merchants Land Limited (CML or the Company) was founded in April 1997 and listed on the Stock Exchange of Hong Kong Limited in October the same year. On 7 May 2012, China Merchants Property Development Co., Ltd (CMPD) acquired a 70.18% stake in Tonic Industries and became its controlling shareholder. On 1 November 2013, CMPD completed an injection of equity interests in 11 real estate projects and renamed the Company as China Merchants Land Limited, making it a professional property developer.
Among the first players in China's real estate industry, CMPD is a flagship of China Merchants Group in this field. It is the country's leading integrated property developer with comprehensive capabilities, extensive offerings and an effective community management system. As at 2013, the total assets of CMPD amounted to RMB134 billion. CMPD is a successful domestic pioneer of 'city operation' and 'sustainable development' by promoting the concepts of 'comprehensive community development model', 'green living system' and 'integrated service system'. Thanks to a considerable recurring profit generated from its reasonable business structure, CMPD is recognized as 'the most risk-resistant property developer'. Headquartered in Shenzhen, CMPD has listed its A shares and B shares on the Shenzhen Stock Exchange, with a secondary listing of B shares on the Singapore Exchange. CMPD currently holds a 74.35% stake in the Company.
Headquartered in Hong Kong, China Merchants Group Limited (CMG) is a major state-owned enterprise directly operated by the central government. As at 2013, the group managed a total of RMB4.42 trillion worth of assets. CMG is principally engaged in three core industries, namely, transport and relevant infrastructure construction, management and services (ports, highways, energy transport and logistics); financial investment and management; property development and operation. CMG holds a 51.89% stake in CMPD.
The Company has equity interests in many development projects in Guangzhou, Foshan, Nanjing, Chongqing and Xi'an, representing a combined gross floor area of approximately 9 million sqm. Apart from establishing presence in these five cities, the Company will seek opportunities for property investment in new domestic markets, tapping into those with good economic development potential. The Company will also proactively explore opportunities overseas by leveraging on CMG's experience as well as competitive edge in this regard.
As a subsidiary of CMG and CMPD, the Company can share their brands, reputation and platforms while being better positioned in international capital markets. With its resources and potential, CML will continue to strive to create value for its shareholders.
updated 22nd September, 2015
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