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, later merged into China Merchants Shekou Industrial Zone Holdings Co., Ltd (CMSK), 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, CMSK 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. CMSK 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, CMSK is recognized as ‘the most risk-resistant property developer’. As of the end of December 2019, the total assets of CMSK had amounted to 617.7 billion. CMSK's business covers 110 cities and regions around the world, with nearly 500 quality projects available and serving ten million of global customers. CMPD currently holds a 74.35% stake in the Company.
China Merchants Group (CMG) is a state-owned backbone enterprise headquartered in Hong Kong and is under the direct supervision of State-owned Assets Supervision and Administration Commission of the State Council (SASAC). In 2019, CMG's various economic indicators hit a record high again with a revenue of 717.7 billion yuan, a total profit of 162.5 billion yuan and a net profit of 126.2 billion yuan, reaching a year-on-year increase of 10.4%, 12.0% and 18.0% respectively. As of the end of 2019, the Group's total assets amounted to 9.3 trillion yuan, a year-on-year increase of 16.7%. The Group's total profit, net profit and total asset ranked No.1 among all central state-owned enterprises. CMG is also one of the eight central SOEs that have been awarded the Level-A performance evaluation by the SASAC for 15 consecutive years and the Excellent Performance Enterprise for five successive tenures. In the Fortune Global 500 list released in 2019, CMG and its subsidiary China Merchants Bank were both shortlisted again, making CMG an enterprise that owns two Fortune Global 500 companies.
The Company has equity interests in 33 development projects in Guangzhou, Foshan, Nanjing, Chongqing and Xi’an, representing a combined gross floor area of approximately 14.87 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.