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China Overseas Property Holdings Limited Announces 2015 Annual Results

Date: 2016-03-18|Source: China Overseas Property Holdings Limited

(Hong Kong, 17 March 2016) China Overseas Property Holdings Limited (hereinafter referred to as "China Overseas Property" or "the Group", HKSE code: 02669.HK) is pleased to announce the first annual consolidated results of the Group for the year ended 31 December 2015, after its successful spin-off from China Overseas Land and Investment Ltd. and separate listing by way of introduction on 23 October 2015.

For the year ended 31 December 2015, the GFA under Group's management increased by 46.5% to 82.6 million sq.m.. New property management contracts secured during the year (including HK$16.5 million through acquisitions) amounted to a total contract sum of approximately HK$513.6 million;Revenue increased by 17.6% to HK$2,544.4 million ;Gross profit increased by 27.0% against last year to HK$524.7 million for the year;Gross profit margin improved to 20.6% ;Profit attributable to owners of the Company increased by 20.6% to HK$117.1 million against the last year ;Basic and diluted earnings per share was HK cent 3.56, increased by 20.3% against last year ;Average return on equity was 20.2%.The Board recommended the payment of a final dividend of HK1.2 cent per share for the year ended 31 December 2015.

The Group competes with our major rivals primarily on branding, service quality, scale and profitability. We concentrate on providing quality management services to our clients, and provide differentiated service products to suit different customer needs in order to establish a well-received brand image. With a proven track record of 30 years' services, we have built up a comprehensive service quality monitoring system, and received the international service standard certification. We have adopted information technology to improve our quality of service and devote our best efforts to promote our customer satisfaction continuously. We focus on the market development in the mid– to high–end residential and commercial properties, so as to maintain business growth to enlarge our market share and operating scale. While we would endeavour to maintain a high quality of service, we strive to beef–up labour productivity and control management overhead cost by the establishment of informationalization and automation platforms to boost up efficiently.

Facing with the potential consumption power of a huge community population, we made every effort to continuously develop our community leasing, sales and other off-line services. Meanwhile, we would expand our business operations vigorously for community services and community assets management via the mobile internet platform, in order to satisfy the various service needs of the owners, tenants and occupiers, and provide swift and convenient services experience that would increase our overall competitiveness in the property management industry.