Poly Property Group Co., Ltd., is a Hong Kong incorporated Chinese

property developer Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. R ...

, with its major businesses include

property development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. R ...

, investment and management. It mainly develops mid to high-end residential and commercial properties in the cities along

Yangtze River Delta The Yangtze Delta or Yangtze River Delta (YRD, or simply ) is a triangle-shaped megalopolis generally comprising the Wu Chinese-speaking areas of Shanghai, southern Jiangsu and northern Zhejiang. The area lies in the heart of the Jiangnan reg ...

and

Pearl River Delta The Pearl River Delta Metropolitan Region (PRD; ; pt, Delta do Rio das Pérolas (DRP)) is the low-lying area surrounding the Pearl River estuary, where the Pearl River flows into the South China Sea. Referred to as the Guangdong-Hong Kong-Mac ...

as well as the second-tier provincial capitals. Poly Property is a constituent of

Hang Seng China-Affiliated Corporations Index Hang Seng China-Affiliated Corporations Index or HSCCI is a stock index of the Stock Exchange of Hong Kong for red chip companies listed on the exchange, which are incorporated outside of mainland China, such as in Bermuda, the Cayman Islands, ...

(

Red chip Red chip stocks () are the stocks of mainland China companies incorporated outside mainland China and listed in Hong Kong. It refers to businesses based in mainland China and with (majority) shares controlled either directly or indirectly by a ...

index) He Ping, son of late military officer , and the son-in-law of the former Chinese leader, late

Deng Xiaoping Deng Xiaoping (22 August 1904 – 19 February 1997) was a Chinese revolutionary leader, military commander and statesman who served as the paramount leader of the People's Republic of China (PRC) from December 1978 to November 1989. After CC ...

, is the former chairman of the company. He Ping was also the chairman of the parent company

China Poly Group China Poly Group Corporation () is a state owned Chinese business group among 102 central state owned enterprises under the supervision of State-owned Assets Supervision and Administration Commission of the State Council (SASAC). It is both prim ...

, which had a military background in the past.

History

The corporate entity of Poly Property was established in 1973, originally as a shipping company called Continental Mariner Investment Company Limited (, abb. CMIC).According to filings in the Company Registry (Hong Kong) In 1993,

China Poly Group Corporation China Poly Group Corporation () is a state owned Chinese business group among 102 central state owned enterprises under the supervision of State-owned Assets Supervision and Administration Commission of the State Council (SASAC). It is both prim ...

acquired 55% stake in the company and converted its business from shipping to conglomerate, as a

reverse IPO A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public compa ...

. In 2005, CMIC was renamed to Poly (Hong Kong) Investments Limited. In 2012 the company renamed again as Poly Property Group Co., Ltd.. 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 Kai Tak Airport was the international airport of Hong Kong from 1925 until 1998. Officially known as Hong Kong International Airport from 1954 to 6 July 1998, it is often referred to as Hong Kong International Airport, Kai Tak, or simply Ka ...

, for HK$3.923 billion. The site was developed into Vibe Centro.

Shareholders

, 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).Hong Kong Stock Exchange
16 August 2010 Poly (Hong Kong) Holdings itself is a subsidiary of state-owned

; China Poly Group owned an additional 6.93% shares of Poly Property, via mainland China incorporated "Poly Southern Group Co., Ltd." (). As Poly Property was incorporated outside mainland China, but controlled by Chinese Central Government indirectly, the company was considered as a

red chip Red chip stocks () are the stocks of mainland China companies incorporated outside mainland China and listed in Hong Kong. It refers to businesses based in mainland China and with (majority) shares controlled either directly or indirectly by a ...

. 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. Poly Property also issued perpetual capital instrument in the past for . During 2016 financial year, all the bonds were fully redeemed by the company.

References

External links

* {{authority control Companies listed on the Hong Kong Stock Exchange Real estate companies of China Conglomerate companies of China Government-owned companies of China Real estate companies established in 1973 1973 establishments in Hong Kong Holding companies of Hong Kong Conglomerate companies of Hong Kong Companies based in Shanghai China Poly Group

History

Shareholders

See also

References

External links