China Overseas Land & Investment Limited

Comprehensive Update on Property Sales and New Land Holdings for January to February 2026

Key Highlights for Investors

• Significant year-on-year declines in both sales value and sales area.
• New land acquisitions in strategic locations: Hong Kong and Xiong’an New Area, Baoding.
• Large volume of subscribed but not yet contracted sales, indicating potential future revenue conversion.

1. Property Sales Update

• February 2026 Sales: The China Overseas Series of Companies reported contracted property sales of approximately RMB 8.464 billion for February 2026, reflecting a substantial year-on-year decrease of 35.9%. The corresponding sales area was about 358,700 square meters, a year-on-year decrease of 45.0%.
• Cumulative Sales (Jan-Feb 2026): For the first two months, accumulated contracted sales totaled RMB 22.942 billion, down 9.0% compared to the same period last year. The accumulated sales area was 875,400 square meters, a 29.7% decrease year-on-year.
• Subscribed but Uncontracted Sales: As at 28 February 2026, the group had subscribed property sales of approximately RMB 11.228 billion, which are anticipated to be converted to contracted sales in the coming months.
• Breakdown of February 2026 Contracted Sales:
  • The Company and subsidiaries: RMB 4.331 billion (153,700 sq.m.)
  • Joint ventures and associates (excluding COGO): RMB 1.833 billion (21,000 sq.m.)
  • China Overseas Grand Oceans Group Limited (COGO): RMB 2.300 billion (184,000 sq.m.)
  • Total: RMB 8.464 billion (358,700 sq.m.)

2. New Land Holdings Update

• February 2026 Acquisitions: The group secured two new land parcels with a total attributable gross floor area (GFA) of 73,487.25 sq.m. and a total attributable land premium of RMB 1,698.19 million.
• Locations & Details:

  City	Project Name	Interest	Land Area (sq.m.)	Total GFA (sq.m.)	Attributable GFA (sq.m.)	Attributable Land Premium (RMB mn)
  Hong Kong	Ngau Tau Kok Project	100%	3,132.00	26,426.25	26,426.25	1,626.19
  Baoding (Xiong’an New Area)	Xiong’an New Area Project	100%	15,870.57	47,061.00	47,061.00	72.00

  Total for the Group: Land Area: 19,002.57 sq.m., GFA: 73,487.25 sq.m., Attributable Land Premium: RMB 1,698.19 million

• COGO and Subsidiaries: No new land parcels were acquired by COGO and/or its subsidiaries during February 2026.

3. Important Notes for Shareholders

• Sharp Decline in Sales: The significant drop in both sales value and sales area—especially the 35.9% and 45.0% year-on-year declines for February—could be seen as a negative indicator for short-term earnings momentum and may impact investor sentiment and share price.
• Pipeline Sales: The large volume of subscribed but uncontracted sales (RMB 11.228 billion) offers potential for revenue recognition in subsequent months, which could partially offset the weak contracted sales in the near term.
• Strategic Land Acquisitions: The acquisition of new land in Hong Kong and Xiong’an New Area, both strategic markets, signals confidence in long-term development potential, but also indicates significant capital deployment.
• COGO Inactivity: The absence of new land acquisition by COGO may signal a more conservative land bank strategy for that subsidiary.
• Data Reliability: All figures are based on internal management records and have not been audited; actual results in forthcoming financial statements may differ.

4. Board and Management

• Board Composition: The update is issued by Chairman and Executive Director Yan Jianguo. Other board members include executive directors Mr. Zhang Zhichao (CEO) and Mr. Guo Guanghui; non-executive directors Mr. Zhuang Yong (Vice Chairman) and Mr. Ma Yao; independent non-executive directors Mr. Li Man Bun, Professor Chan Ka Keung, and Dr. Chan Ching Har.

Potential Impact on Share Price

• The sharp year-on-year declines in both contracted sales value and sales area are material and may be interpreted negatively by the market, potentially putting pressure on the share price.
• The large pipeline of subscribed sales offers a mitigating factor, suggesting possible revenue uplift in future periods.
• The land acquisitions in Hong Kong and Xiong’an reinforce the group’s commitment to growth in key regions, but also imply increased capital expenditure.

Disclaimer: This article is for informational purposes only and is based on unaudited internal management data. Investors should exercise caution and consult their professional advisers before making any investment decisions. The content herein does not constitute investment advice or an offer to buy or sell any securities.

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