Poly Property

Chinese property developer

Poly Property Group Co., Ltd.

Trade name

| Poly Property
Formerly|

* Continental Mariner Investment Company
* Poly (Hong Kong) Investments

Type| public company

Traded as

| SEHK: 119
Industry| Real estate development
Founded| 27 February 1973; 50 years ago (1973-02-27)
Headquarters|

* Hong Kong S.A.R., China (registered office)
* Shanghai, China (de facto)[1]

Area served

* mainland China
* Hong Kong S.A.R.

Key people

| | Xue Ming| (chairman)

|

Han Qingtao| (managing director)
Products|

* Commercial buildings
* Residential buildings
* Shopping malls

Revenue|  HK$030.580 billion (2016)

Net income

|  HK$000081 million (2016)
Total assets|  HK$122.073 billion (2016)
Total equity|  HK$024.697 billion (2016)
Owner| | China Poly Group| (47.32%)

|

general public| (52.68%)
Parent| | Poly (HK) Holdings| (direct)

|

China Poly Group| (intermediate)
The SASAC| (intermediate)
The State Council| (ultimate)
Website| polyhongkong.com.hk
Footnotes / references

* in consolidated financial statement, in HKFRSs
* excluding perpetual capital instrument and minority interests

[2]
Poly Property Group Co., Ltd.

Traditional Chinese| 保利置業集團有限公司
Simplified Chinese| 保利置业集团有限公司
| Transcriptions

Standard Mandarin
Hanyu Pinyin| Bǎolì zhìyè jítuán yǒuxiàn gōngsī
Poly Property
Traditional Chinese| 保利置業
Simplified Chinese| 保利置业
| Transcriptions

Standard Mandarin
Hanyu Pinyin| Bǎolì zhìyè
Poly (Hong Kong) Investments
Traditional Chinese| 保利(香港)投資
| Transcriptions

Continental Mariner Investment
Traditional Chinese| 新海康航業投資
| Transcriptions

Poly Property Group Co., Ltd., is a Hong Kong incorporated Chinese property developer, with its major businesses include property development, investment and management. It mainly develops mid to high-end residential and commercial properties in the cities along Yangtze River Delta and Pearl River Delta as well as the second-tier provincial capitals.[3][failed verification]

Poly Property is a constituent of Hang Seng China-Affiliated Corporations Index (Red chip index)

He Ping, son of late military officer He Biao [zh], and the son-in-law of the former Chinese leader, late Deng Xiaoping, is the former chairman of the company.[4] He Ping was also the chairman of the parent company China Poly Group, which had a military background in the past.

## History[edit]

The corporate entity of Poly Property was established in 1973, originally as a shipping company called Continental Mariner Investment Company Limited (Chinese: 新海康航業投資有限公司, abb. CMIC[5]).[6] In 1993, China Poly Group Corporation acquired 55% stake in the company and converted its business from shipping to conglomerate, as a reverse IPO.[citation needed] In 2005, CMIC was renamed to Poly (Hong Kong) Investments Limited.[5][7] In 2012 the company renamed again as Poly Property Group Co., Ltd..[6]

Poly Property entered Hong Kong property market in 2014 by purchasing a land lease "New Kowloon Inland Lot No.6527" in an area formerly belonging to Kai Tak Airport, for HK$3.923 billion.[8] The site was developed into Vibe Centro.[9]

## Shareholders[edit]

As of 31 December 2016[update], Poly (Hong Kong) Holdings and its subsidiaries, owned 40.39% shares of the listed company (the subsidiaries are BVI companies Congratulations Co., Ltd., Source Holdings and Ting Shing Holdings respectively).[10] Poly (Hong Kong) Holdings itself is a subsidiary of state-owned China Poly Group; China Poly Group owned an additional 6.93% shares of Poly Property, via mainland China incorporated "Poly Southern Group Co., Ltd." (Chinese: 保利南方集团有限公司).[2]: 126 As Poly Property was incorporated outside mainland China, but controlled by Chinese Central Government indirectly, the company was considered as a red chip.[11]

Charmian Xue Ming and independent non-executive directors: Choy Shu Kwan, Leung Sau Fan (Sylvia Leung) and Wong Ka Lun, also owned negligible number of the shares.[2]: 125

Poly Property also issued perpetual capital instrument in the past for CN¥1 billion. During 2016 financial year, all the bonds were fully redeemed by the company.[2]: 279

## See also[edit]

* Poly Real Estate, sister company

## References[edit]

1. ^ "联系我们" (in Chinese). Poly Property. Retrieved 22 June 2017.
2. ^ a b c d "2016 Annual Report" (PDF). Poly Property. Hong Kong Stock Exchange. 19 April 2017. Retrieved 22 June 2017.
3. ^ Poly (Hong Kong) Investments Limited Archived 26 January 2013 at archive.today irasia.com
4. ^ "2010 Annual Report" (PDF). Poly (Hong Kong) Investments. 30 April 2011. Retrieved 22 June 2017.
5. ^ a b "Change of company name" (PDF) (Press release). Continental Mariner Investment Company. 3 December 2004. Retrieved 22 June 2017 - via Hong Kong Exchanges and Clearing website.
6. ^ a b According to filings in the Company Registry (Hong Kong)
7. ^ Poly 1,430,000,000 acquisition of Hong Kong Shenzhen Poly ways the face of competition Archived 15 July 2011 at the Wayback Machine
8. ^ "Land Sale Records 2013–14" (PDF). Lands Department (Hong Kong). Retrieved 22 June 2017.
9. ^ "Home". vibecentro.com.hk.
10. ^ Hong Kong Stock Exchange 16 August 2010
11. ^ "中資紅籌股公司名單 (主板)" (in Chinese). Hong Kong Stock Exchange. 30 June 2017. Retrieved 19 July 2017.

## External links[edit]

* Official website

* v
* t
* e

Real estate companies of China

State-owned|

* BBMG
* China Aerospace International Holdings
* China Merchants Shekou Industrial Zone Holdings
* China Overseas Land and Investment
* China Railway Construction Corporation
* China Railway Group
* China Resources Land
* Financial Street Holding
* China Jinmao
* China Poly Group
* Poly Property
* Poly Real Estate
* Peking University Resources
* Sino-Ocean Group
* Yuexiu Property
* CRRC Group

Civilian-run|

* Agile Property
* Aoyuan
* China Properties Group
* China SCE Property
* China Vanke
* Coastal Greenland
* Country Garden
* Dalian Wanda
* Evergrande Real Estate Group
* Fantasia Holdings
* Glorious Property Holdings
* Greentown China
* Hopson Development
* KWG Property
* Nenking Group
* Oceanwide Holdings
* R&F Properties
* SOHO China
* Shanghai Forte Land
* Shimao Group
* Sunac
* Xinyuan Real Estate

Foreign investment|

* C C Land
* Henderson China
* Hongkong Chinese Limited
* K. Wah International
* New World China Land
* Shui On Land

*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template