# Poly Property

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traditional Chinese: 保利置業集團有限公司; simplified Chinese: 保利置业集团有限公司; pinyin: *Bǎolì zhìyè jítuán yǒuxiàn gōngsī* **Poly Property Group Co., Ltd.**, is a Hong Kong incorporated Chinese [property developer](/source/Property_developer), with its major businesses include [property development](/source/Property_development), investment and management. It mainly develops mid to high-end residential and commercial properties in the cities along [Yangtze River Delta](/source/Yangtze_River_Delta) and [Pearl River Delta](/source/Pearl_River_Delta) as well as the second-tier provincial capitals.[2][failed verification]

Poly Property is a constituent of [Hang Seng China-Affiliated Corporations Index](/source/Hang_Seng_China-Affiliated_Corporations_Index) ([Red chip](/source/Red_chip) index)

He Ping, son of late military officer [He Biao](/source/He_Biao), and the son-in-law of the former Chinese leader, late [Deng Xiaoping](/source/Deng_Xiaoping), is the former chairman of the company.[3] He Ping was also the chairman of the parent company [China Poly Group](/source/China_Poly_Group), 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** (traditional Chinese: 新海康航業投資有限公司, abb. **CMIC**[4]).[5] In 1993, [China Poly Group Corporation](/source/China_Poly_Group_Corporation) acquired 55% stake in the company and converted its business from shipping to [conglomerate](/source/Conglomerate_(company)), as a [reverse IPO](/source/Reverse_IPO).[citation needed] In 2005, CMIC was renamed to Poly (Hong Kong) Investments Limited.[4][6] In 2012 the company renamed again as **Poly Property Group Co., Ltd.**.[5]

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](/source/Kai_Tak_Airport), for HK$3.923 billion.[7] The site was developed into Vibe Centro.[8]

## Shareholders

As of 31 December 2016, Poly (Hong Kong) Holdings and its subsidiaries, owned 40.39% shares of the listed company (the subsidiaries are [BVI](/source/British_Virgin_Islands) companies Congratulations Co., Ltd., Source Holdings and Ting Shing Holdings respectively).[9] Poly (Hong Kong) Holdings itself is a subsidiary of state-owned [China Poly Group](/source/China_Poly_Group_Corporation); China Poly Group owned an additional 6.93% shares of Poly Property, via mainland China incorporated "Poly Southern Group Co., Ltd." (simplified Chinese: 保利南方集团有限公司).[10]: 126 As Poly Property was incorporated outside mainland China, but controlled by Chinese Central Government indirectly, the company was considered as a [red chip](/source/Red_chip).[11]

Charmian Xue Ming and [independent non-executive directors](/source/Independent_director): Choy Shu Kwan, Leung Sau Fan (Sylvia Leung) and Wong Ka Lun, also owned negligible number of the shares.[10]: 125

Poly Property also issued [perpetual capital instrument](/source/Perpetual_bond) in the past for CN¥1 [billion](/source/1,000,000,000). During 2016 financial year, all the bonds were fully redeemed by the company.[10]: 279

## See also

- [Poly Real Estate](/source/Poly_Real_Estate), sister company

## References

1. ["联系我们"](http://www.polyhongkong.com.hk/about/contact.html) (in Chinese). Poly Property. Retrieved 22 June 2017.

1. [Poly (Hong Kong) Investments Limited](http://www.irasia.com/listco/hk/polyhk/press/p100204.htm) [Archived](https://archive.today/20130126132727/http://www.irasia.com/listco/hk/polyhk/press/p100204.htm) 26 January 2013 at archive.today irasia.com

1. ["2010 Annual Report"](http://www.polyhongkong.com/a_images/files/2015032513329.pdf). Poly (Hong Kong) Investments. 30 April 2011. Retrieved 22 June 2017.

1. ["Change of company name"](https://www.hkexnews.hk/listedco/listconews/SEHK/2004/1203/LTN20041203117.pdf). Continental Mariner Investment Company. 3 December 2004. Retrieved 22 June 2017. – via Hong Kong Exchanges and Clearing website.

1. According to filings in the Company Registry (Hong Kong)

1. [Poly 1,430,000,000 acquisition of Hong Kong Shenzhen Poly ways the face of competition](http://www.robroad.com/data/guangzhou/index.php/poly-hong-kong-square/) [Archived](https://web.archive.org/web/20110715212136/http://www.robroad.com/data/guangzhou/index.php/poly-hong-kong-square/) 15 July 2011 at the Wayback Machine

1. ["Land Sale Records 2013–14"](https://www.landsd.gov.hk/en/landsale/records/2013-2014.pdf). Lands Department (Hong Kong). Retrieved 22 June 2017.

1. ["Home"](http://www.vibecentro.com.hk/). *vibecentro.com.hk*

1. [Hong Kong Stock Exchange](http://sc.hkexnews.hk/gb/sdinotice.hkex.com.hk/di/NSForm2.aspx?fn=141641&sa2=ns&sid=22630104&corpn=Poly+(Hong+Kong)+Investments+Ltd.&corpndisp=Poly+(Hong+Kong)+Investments+Ltd.&sd=15%2F04%2F2010&ed=13%2F04%2F2011&sa1=cl&scsd=14%2F04%2F2010&sced=14%2F04%2F2011&cn=1&src=MAIN&lang=EN&cname=Poly+(Hong+Kong)+Investments+Ltd.&) 16 August 2010

1. ["2016 Annual Report"](https://www.hkexnews.hk/listedco/listconews/SEHK/2017/0419/LTN20170419600.pdf). *Poly Property*. Hong Kong Stock Exchange. 19 April 2017. Retrieved 22 June 2017.

1. ["中資紅籌股公司名單 (主板)"](https://www.hkex.com.hk/chi/stat/smstat/chidimen/cd_rcmb_c.htm) (in Chinese). Hong Kong Stock Exchange. 30 June 2017. Retrieved 19 July 2017.

## External links

- [Official website](http://www.polyhongkong.com.hk)

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Adapted from the Wikipedia article [Poly Property](https://en.wikipedia.org/wiki/Poly_Property) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Poly_Property?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.