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News Center

China Overseas Property Holdings Limited Announces Annual Results for 2020

Date: 2021-03-25|Source: China Overseas Property Holdings Limited

(Hong Kong, 25 March 2021) China Overseas Property Holdings Limited (hereinafter referred to as "China Overseas Property" or "the Group", HKSE code: 02669.HK) is pleased to announce its annual results for the twelve months ended 31 December 2021.

For the year ended 31 December 2020, the gross floor area ("GFA") under our management increased by 20.4% or 30.9 million sq.m. to 182.3 million sq.m. against last year, in which, new jobs secured from independent third-parties accounted for 22.8%. Revenue increased by 19.7% to HK$6,544.9 million for the year ended 31 December 2020, comparing to HK$5,465.5 million in the last year. Operating profit rose by 22.5% to HK$934.1 million (2019: HK$762.5 million). Profit attributable to shareholders of the Company for the year ended 31 December 2020 increased by 30.2% to HK$700.0 million against last year (2019: HK$537.8 million). Basic and diluted earnings per share was HK21.30 cents (2019: HK16.36 cents), representing an increase of 30.2%. Average return on equity in 2020 was 38.2% (2019: 40.8%). The Board recommended the payment of a final dividend of HK4.2 cents per share (2019: HK2.8 cents per share) for the year ended 31 December 2020.

As an avant-garde in the property management industry in China with first-class qualifications, the Group was established in Hong Kong in 1986, and have gained over 30 years of cultivation in Hong Kong and Macau. We set foot in Chinese Mainland in 1991. The Group fully integrates the property management experiences in Hong Kong into the practical situation in Mainland China. We adhere to the brand concept of "building happiness and leading the trend" to promote continuous growth in resources, the enterprise spirit of "progress whole-heartedly each day" to lead the balanced enhancement of capabilities, the core value of "customer-orientation, guaranteed quality and value creation" to a healthy promotion of efficiency, and the service awareness of "serving with heart every single day" to create a reputation of quality. Adhering to the primitive intention of "creating delightful living", firmly believing in "quality and enthusiasm", the firm faith of the Group over the years and in the future, we are committed to achieving long-term sustainable and steady growth for our shareholders by cultivating the quality of our services and seeking win-win cooperation in this period of uncertainty and rapid changes in the external environment.

In 2021, the novel coronavirus pandemic continues to create uncertainties to the world. Faced with unprecedented transformation in a century, and to ensure a quality development which is balanced, sustainable and healthy, we must preserve co-ordinated development and security in our new development philosophy. Looking ahead, we must strengthen our competitive edge, be pro-active, play a decent first move, take initiatives, and embrace changes in the emerging strategic opportunity period. We must also learn, take responsibilities, and strive in the fierce full market competition, roll-out the 14th Five-Year Plan whole-heartedly, and rebuild the reputation of "No.1 Butler".