China Merchants Land Limited (the "Company", formerly known as Tonic Industries Holdings Limited, "Tonic Industries") was founded in April 1997 and was listed on the Stock Exchange of Hong Kong Limited in October of the same year with the stock code 00978.

On 7 May 2012, China Merchants Property Development Co., Ltd. (which was subsequently merged into China Merchants Shekou Industrial Zone Holdings Co., Ltd. ("China Merchants Shekou")) acquired a 70.18% stake in Tonic Industries and became its controlling shareholder, and Tonic Industries was renamed as China Merchants Land Limited. With the injection of numerous property projects located in Guangzhou, Foshan, Nanjing, Xi'an, and Chongqing by the new controlling shareholder, the Company successfully transformed into a professional property enterprise.

As of 30 June 2025, China Merchants Shekou indirectly holds a 74.35% equity interest in the Company, while China Merchants Group holds approximately 58% equity interest in China Merchants Shekou.

As of 30 June 2025, the Company had 44 property development projects in Foshan, Guangzhou, Chongqing, Nanjing, Jurong and Xi'an. These projects primarily focus on the development of residential properties, as well as residential and commercial composite properties, with product types including apartments, villas, offices and retail stores etc. In the first half of 2025, projects in Foshan, Guangzhou, Chongqing, Nanjing, Xi'an and Hong Kong accounted for 24.32%, 1.98%, 27.32%, 31.56%, 14.01% and 0.73% of the Company's total revenue respectively. As at 30 June 2025, the saleable GFA of the properties comprising the projects which had not been sold or pre-sold was 3,791,122 sq m.

In addition to its property development business, the Company has also built an asset management platform through its subsidiary, China Merchants Land Asset Management Co., Ltd., to manage China Merchants Commercial Real Estate Investment Trust (HKEX stock code: 01503)

updated 25th November, 2025