China Merchants Land Limited (0978) Stock Price & Analysis

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0978 Stock Chart & Stats

HK$0.24-HK$0.01(-5.20%)

At close: Nov 05 4:00 PM GMT+8

Day’s Range: HKD 0.24 - HKD 0.25
52-Week Range: HKD 0.22 - HKD 0.31
Previous Close: HKD 0.25
Volume: N/A
Average Volume (3M): 933.83K
Market Cap: HKD 1.23B
Enterprise Value: HKD 46.40B
Total Cash (Recent Filing): HKD 13.86B
Total Debt (Recent Filing): HKD 28.11B
Price to Earnings (P/E): ―
Beta: 0.64
Next Earnings: Mar 18, 2027 (Est.)
EPS Estimate: N/A
Last Dividend Ex-Date: Jul 08, 2024
Dividend Yield: N/A

Bulls Say, Bears Say

Bulls Say

Revenue Recovery

A strong 25.9% revenue rebound in 2025 demonstrates the company’s ability to recover top-line momentum after downturns. For a developer, durable revenue recovery signals resumed project sales and presales execution that can underpin cash inflows and operational scale over the next 2–6 months.

Diversified Revenue Mix

China Merchants Land earns from development, investment rentals and property management, providing a structural mix of one-off project sales and recurring rental/fee income. This diversification helps stabilize cash flows across cycles and supports longer-term margin resilience versus pure-play developers.

Proven Cash Generation Periods

The company has demonstrated it can generate material operating cash (about HK$6.5B in 2024). That historical cash-generation capacity indicates underlying operating leverage and working-capital management ability, which can be re-levered when project deliveries and collections normalize.

Bears Say

Compressed Margins

Margins have deteriorated sharply, with gross margin compressed to ~6.3% and net margin negative at ~-8.4% in 2025. For a property developer, persistently thin or negative margins undermine sustainable profitability, reduce reinvestment capacity and increase sensitivity to cost or price shocks over coming quarters.

Very High Leverage

Leverage rose to roughly 5.5x debt-to-equity in 2025 with equity eroded by losses. High and rising gearing constrains financial flexibility, raises refinancing and interest risks, and makes the firm vulnerable to funding stress or slower sales cycles over the medium term.

Volatile Cash Flow

Operating cash flow moved from a strong inflow in 2024 to a sizable outflow in 2025, reflecting volatile collections and project timing. Such cash-flow volatility increases reliance on external funding, complicates project execution and heightens refinancing risk across the next several quarters.

China Merchants Land Limited News

China Merchants Land Implements Senior Management Reshuffle

The latest update is out from China Merchants Land Limited ( ($HK:0978) ). China Merchants Land Limited announced a major reshuffle of its senior management and board roles, effective 27

1w agoTNY1 0978

China Merchants Land Updates Board and Committee Roles

China Merchants Land Limited ( ($HK:0978) ) has shared an update. China Merchants Land Limited has updated its board composition, confirming a mix of non-executive, executive and independent non-executive directors,

1w agoTNY1 0978

China Merchants Land Moves to Fully Acquire Foshan Property Project

China Merchants Land Limited ( ($HK:0978) ) has issued an update. China Merchants Land Limited has announced that its indirectly owned unit Guangzhou China Merchants Property Co., Ltd. will acquire

3w agoTNY1 0978

China Merchants Land Further Delays Circular on Subsidiary Equity Disposal

China Merchants Land Limited ( ($HK:0978) ) just unveiled an update. China Merchants Land Limited has announced a further delay in issuing a circular to shareholders concerning the deemed disposal

1M agoTNY1 0978

China Merchants Land Monetises Foshan Parcel in RMB569 Million Resumption Deal

China Merchants Land Limited ( ($HK:0978) ) just unveiled an announcement. China Merchants Land Limited has disclosed that its indirect non-wholly owned subsidiary, Foshan China Merchants Baohua Real Estate, has

1M agoTNY1 0978

China Merchants Land Sets Long-Term Connected Service Deals With Controlling Shareholder CMSK

An announcement from China Merchants Land Limited ( ($HK:0978) ) is now available. China Merchants Land Limited has entered into a Property Services Procurement Framework Agreement with its controlling shareholder

2M agoTNY1 0978

China Merchants Land Signs Connected Lease with CMSK Subsidiary

China Merchants Land Limited ( ($HK:0978) ) just unveiled an announcement. China Merchants Land Limited has entered into a five-year property lease agreement, effective from 1 September 2026 to 31

2M agoTNY1 0978

China Merchants Land Dilutes Stake as Shenzhen Investor Injects Capital into Project Company

China Merchants Land Limited ( ($HK:0978) ) has shared an update. China Merchants Land Limited has advanced a previously announced connected transaction involving a deemed disposal of equity in a

2M agoTNY1 0978

China Merchants Land Joins Consortium in HK$16.8 Billion Hong Kong Land JV

China Merchants Land Limited ( ($HK:0978) ) has shared an announcement. China Merchants Land Limited has formed joint venture companies with China Overseas, CR Land (Overseas), CTG Investment, JD and

2M agoTNY1 0978

China Merchants Land Swings to Wider Interim Loss Despite Higher Gross Margin

China Merchants Land Limited ( ($HK:0978) ) has provided an announcement. China Merchants Land Limited reported a decline in revenue to RMB3.86 billion for the six months ended 30 June

2M agoTNY1 0978

0978 FAQ

What was China Merchants Land Limited’s price range in the past 12 months?

China Merchants Land Limited lowest stock price was HK$0.22 and its highest was HK$0.31 in the past 12 months.

What is China Merchants Land Limited’s market cap?

China Merchants Land Limited’s market cap is HK$1.23B.

When is China Merchants Land Limited’s upcoming earnings report date?

The company’s upcoming earnings report date is not yet available.

How were China Merchants Land Limited’s earnings last quarter?

China Merchants Land Limited released its earnings results on Aug 18, 2026. The company reported -HK$0.053 earnings per share for the quarter.

Is China Merchants Land Limited overvalued?

Not enough analysts have published a price target to calculate whether the price is overvalued.

Does China Merchants Land Limited pay dividends?

China Merchants Land Limited pays a Annually dividend of HK$0.012 which represents an annual dividend yield of ―. See more information on China Merchants Land Limited dividends here

What is China Merchants Land Limited’s EPS estimate?

China Merchants Land Limited’s EPS estimate for its next earnings report is not yet available.

How many shares outstanding does China Merchants Land Limited have?

China Merchants Land Limited has 4,905,258,000 shares outstanding.

What happened to China Merchants Land Limited’s price movement after its last earnings report?

China Merchants Land Limited reported an EPS of -HK$0.053 in its last earnings report. Following the earnings report the stock price went down -2.049%.

Which hedge fund is a major shareholder of China Merchants Land Limited?

Currently, no hedge funds are holding shares in HK:0978

What is the TipRanks Smart Score and how is it calculated?

Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology

Company Description