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China Merchants Land Limited logo

China Merchants Land Limited

0978.HK

HKSEReal EstateReal Estate - Development

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Latest quote

HK$0.238

+HK$0.002 · +0.85%

Aug 25, 3:57 PM HKT

0978.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

China Merchants Land Ltd. is an investment holding company, which engages in the development, selling, leasing, investment and management of properties. It operates through the following segments: Properties and Asset Management. The Properties segment involves in the development and sale of properties and property leasing. The Asset Management segment includes asset management for office premises and shopping malls. The company was founded on April 24, 1997 and is headquartered in Hong Kong.

Industry
Real Estate - Development
Sector
Real Estate
Headquarters
HK
CEO
King Yuen Wong
Listed since
Jul 12, 2018
Employees
670

Market position

52-week range

Current HK$0.238

Open
HK$0.238
Previous close
HK$0.236
Volume
0
0× average
Average volume
555.99K
Average daily volume
Market cap
1.17B HKD
Beta
0.59
Market reference 1
50-day average
HK$0.2418
-1.58% below average
200-day average
HK$0.2635
-9.68% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
21.81B CNY
P/E (TTM)
-0.46×
P/B (TTM)
0.19×
P/S (TTM)
0.04×
EV / EBITDA
34.46×
Earnings yield
-178.42%
Free cash flow yield
-219.15%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
7.24%
Operating margin
2.31%
Net margin
-8.69%
Return on equity
-38.35%
Return on assets
-1.96%
Return on invested capital
0.71%

Financial health

Debt / equity
5.21×
Current ratio
1.32×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends21%10%-1%-12%Gross margin, FY2021: 18.49%Gross margin, FY2022: 13.40%Gross margin, FY2023: 13.44%Gross margin, FY2024: 4.77%Gross margin, FY2025: 6.32%Operating margin, FY2021: 14.24%Operating margin, FY2022: 9.74%Operating margin, FY2023: 9.18%Operating margin, FY2024: -1.36%Operating margin, FY2025: 1.69%Net margin, FY2021: 2.16%Net margin, FY2022: 1.10%Net margin, FY2023: 0.46%Net margin, FY2024: -8.96%Net margin, FY2025: -8.38%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 18.49%. Gross margin FY2022 13.40%. Gross margin FY2023 13.44%. Gross margin FY2024 4.77%. Gross margin FY2025 6.32%. Operating margin FY2021 14.24%. Operating margin FY2022 9.74%. Operating margin FY2023 9.18%. Operating margin FY2024 -1.36%. Operating margin FY2025 1.69%. Net margin FY2021 2.16%. Net margin FY2022 1.10%. Net margin FY2023 0.46%. Net margin FY2024 -8.96%. Net margin FY2025 -8.38%.

Income trends

Revenue

26.25B CNY+27.05%

Operating income

443.04M CNY+723.43M CNY

Net income

−2.2B CNY-18.93%
Income trends across reported periods33.08B CNY20.25B CNY7.42B CNY−5.41B CNYRevenue, FY2021: 25.92B CNYRevenue, FY2022: 29.87B CNYRevenue, FY2023: 28.8B CNYRevenue, FY2024: 20.66B CNYRevenue, FY2025: 26.25B CNYOperating income, FY2021: 3.69B CNYOperating income, FY2022: 2.91B CNYOperating income, FY2023: 2.64B CNYOperating income, FY2024: −280.39M CNYOperating income, FY2025: 443.04M CNYNet income, FY2021: 560.57M CNYNet income, FY2022: 329.66M CNYNet income, FY2023: 133.41M CNYNet income, FY2024: −1.85B CNYNet income, FY2025: −2.2B CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 25.92B CNY. Revenue FY2022 29.87B CNY. Revenue FY2023 28.8B CNY. Revenue FY2024 20.66B CNY. Revenue FY2025 26.25B CNY. Operating income FY2021 3.69B CNY. Operating income FY2022 2.91B CNY. Operating income FY2023 2.64B CNY. Operating income FY2024 −280.39M CNY. Operating income FY2025 443.04M CNY. Net income FY2021 560.57M CNY. Net income FY2022 329.66M CNY. Net income FY2023 133.41M CNY. Net income FY2024 −1.85B CNY. Net income FY2025 −2.2B CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue26.25B CNY20.66B CNY28.8B CNY29.87B CNY25.92B CNY
Cost of goods sold24.59B CNY19.68B CNY24.93B CNY25.87B CNY21.13B CNY
Gross profit1.66B CNY985.42M CNY3.87B CNY4B CNY4.79B CNY
Selling, general, and administrative1.15B CNY930.66M CNY1.23B CNY1.09B CNY1.1B CNY
Operating expenses1.22B CNY1.26B CNY1.23B CNY1.14B CNY1.1B CNY
Interest income195.2M CNY334.59M CNY430.77M CNY359.74M CNY285.73M CNY
Interest expense470.49M CNY577.25M CNY740.39M CNY627.91M CNY691.66M CNY
Depreciation and amortization189.87M CNY200.8M CNY231.7M CNY225.44M CNY277.95M CNY
Operating income443.04M CNY−280.39M CNY2.64B CNY2.91B CNY3.69B CNY
Net income−2.2B CNY−1.85B CNY133.41M CNY329.66M CNY560.57M CNY

Company facts updated Aug 25, 2026.

Earnings

Latest EPS result
-0.05

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates0.1-0.1-0.29-0.49Q3 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25Q1 '26Q3 '26
Q3 2022, reported Aug 18, 2022: actual 0.056, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 15, 2023: actual 0.018, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 23, 2023: actual 0.019, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 14, 2024: actual 0.011, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 29, 2024: actual -0.072, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 12, 2025: actual -0.33, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 12, 2026: actual -0.445, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 19, 2026: actual -0.053, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates25.29B18.14B10.98B3.82BQ3 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25Q1 '26Q3 '26
Q3 2022, reported Aug 18, 2022: actual 16.16B HKD, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 15, 2023: actual 18.31B HKD, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 23, 2023: actual 10.61B HKD, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 14, 2024: actual 21.01B HKD, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 29, 2024: actual 5.63B HKD, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 12, 2025: actual 16.4B HKD, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 12, 2026: actual 23.75B HKD, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 19, 2026: actual 4.5B HKD, estimate —, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$0.012

2024 complete year-91.4% since 2020

Corporate action history

Dividend

Ex-dividend Jul 8, 2024

HK$0.012

Irregular

Record Jul 9, 2024 · Payment Jul 31, 2024

Dividend

Ex-dividend May 30, 2023

HK$0.03

Annual

Record May 31, 2023 · Payment Jun 30, 2023

Dividend

Ex-dividend May 30, 2022

HK$0.06

Annual

Record May 31, 2022 · Payment Jun 30, 2022

Dividend

Ex-dividend May 28, 2021

HK$0.07

Annual

Record May 31, 2021 · Payment Jun 30, 2021

Dividend

Ex-dividend May 22, 2020

HK$0.14

Annual

Record May 25, 2020 · Payment Jun 30, 2020

Dividend

Ex-dividend May 7, 2019

HK$0.08

Annual

Record May 8, 2019 · Payment Jun 30, 2019

0978.HK peers

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China Overseas Land & Investment Ltd. logo

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KE Holdings Inc. logo

2423.HK

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HK$45.72

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Swire Properties Limited logo

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Swire Properties Limited

HK$24.96

-1.19%

ETFs holding 0978.HK

Funds reporting this stock among their holdings, ordered by reported position size.

Avantis Emerging Markets Equity ETF logoAvantis Emerging Markets Equity ETFAVEM
Market value
4.47K
Weight
—
AUM
27.58B USD
Expense ratio
0.33%
Price / 1D
$94.73+1.74%

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