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Executive Shakeup at China Overseas Land & Investment
China overseas development (00688.HK): Guo Guanghui will be the authorized representative of the company.
China Overseas Development (00688.HK) announced that Luo Liang will retire due to reaching the retirement age and will step down as an executive director of the company, as well as vice chairman of the board of directors, member of the Executive Committee and the Corporate Governance Committee, and authorized representative, effective from August 29, 2024. Guo Guanghui (Executive Director of the company) will assume the role of authorized representative of the company under Rule 3.05 of the Listing Rules, effective from August 29, 2024.
Express News | China Overseas Land & Investment - Luo Liang Will Retire as an Executive Director
China Overseas Land & Investment Books Lower Attributable Profit in H1, Shares Down 5%
China Overseas Land Reports Solid Mid-Year Profits
China Overseas Development (00688.HK): The core shareholders' attributable profit in the first half of the year reached 10.64 billion yuan, with an interim dividend of 30 Hong Kong cents per share.
On August 28, Guolonghui announced that as of June 30, 2024, the group's series of companies' contracted property sales amounted to 148.38 billion yuan, with a corresponding sales area of 5.44 million square meters. During the period, the group's revenue was 86.94 billion yuan, and the commercial property revenue was 3.54 billion yuan, a year-on-year increase of 19.8%. The company's shareholders' attributable profit was 10.31 billion yuan, and the core shareholders' attributable profit was 10.64 billion yuan, with basic earnings per share of 0.94 yuan. The board of directors announced the distribution of mid-term dividends.
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