Guangdong Investment

What Guangdong Investment does

Guangdong Investment Limited is a Hong Kong-listed, state-controlled diversified investment holding company (HKEX: 0270) controlled by the Guangdong provincial government through Guangdong Holdings Limited, which holds approximately 58.26% of the share capital. Originally incorporated in 1973 as Union Globe Development Limited, it was acquired by the Guangdong provincial government vehicle in 1987 and renamed in 1988. The Group operates across five core business segments: water resources, property investment and development, department store operations, hotel operations and management, and infrastructure (power generation and toll roads). The flagship asset is the Dongshen Water Supply Project, which operates under a 30-year exclusive concession from August 2000 to supply raw water to Hong Kong, Shenzhen and Dongguan, with a designed annual capacity of 2.423 billion tons and aggregated group treatment and supply capacity of 16.15 million tons per day. Under the 2024-2026 pricing agreement, annual basic water prices step up from HK$5,136 million to HK$5,385 million.

Beyond water, the Group holds a commercial property portfolio anchored by Teem Plaza in Guangzhou, Tianjin YueHai Teem Shopping Mall, Panyu Teemall, and the 28-storey Guangdong Investment Tower on Connaught Road Central in Hong Kong. It operates five department stores totalling approximately 209,900 square metres of leased area, owns six hotels (two in Hong Kong, two in Zhuhai, one in Shenzhen, one in Guangzhou) and manages twenty hotels across Hong Kong, Macau and Mainland China. Infrastructure assets comprise a 71.25% interest in the 600 MW GDH Energy power generation unit, a 25% stake in the 3,200 MW Yudean Jinghai Power project, and the 153 km Xingliu Expressway toll road in Guangdong.

In 2024 the Group reported revenue of HK$18.5 billion (down 8.9% from HK$20.3 billion in 2023) and profit attributable to owners of HK$3.14 billion (up 0.6%). The go-to-market is predominantly B2G through long-dated regulated water and toll-road concessions, complemented by B2B commercial leasing and B2C retail and hospitality. Revenue is generated through contracted government water tariffs, fixed and turnover-based commercial rents, retail department store sales, and hotel room and ancillary income. Distribution is via direct concession agreements with municipal authorities, on-site property leasing, hotel direct bookings and third-party OTAs, and physical department store operations.

Name

Guangdong Investment

Legal name

Guangdong Investment Limited

Website

https://gdi.com.hk

Company type

Public

Founded year

1973

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Guangdong Investment Limited is a Hong Kong-listed, Guangdong provincial government-controlled (HKEX: 0270) diversified conglomerate operating water supply, commercial property, department stores, hotels, power generation and toll roads across the Greater Bay Area and Mainland China, anchored by a 30-year cross-border water concession serving Hong Kong, Shenzhen and Dongguan.

Ownership category

akta.pro rank

Product category

Utilities and Conglomerate Infrastructure

NAICS

Management of Companies and Enterprises (551)

SIC

Water Supply (4941)

akta.pro primary industry

Capital Delivery, Asset Management & Renewal Programs (Pipes, Plants, Pumps) (EUANAAAK)

Keywords

• Water supply services
• Property investment management
• Department store operations
• Hotel management services
• Infrastructure development

Headquarters

HQ city

Central

HQ country

Hong Kong SAR China

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Water Resources Supply: Revenue from water supply to Hong Kong, Shenzhen and Dongguan under long-term concession agreements. Annual water prices under 2024-2026 agreement: HK$5,136,240,000 (2024), HK$5,259,000,000 (2025), HK$5,384,690,000 (2026). Revenue of HK$6.383 billion in 2023.
2. Property Investment and Development: Rental income from commercial properties including Teem Plaza, Tianjin Teemmall, Panyu Teemall, Guangdong Investment Tower office and retail spaces. Tianjin YueHai Teem Shopping Mall has 145,000 sqm held for rental; Panyu Teemall has 144,000 sqm commercial area for lease.
3. Department Store Operations: Five department stores with total leased area of approximately 209,900 square metres, including Teemall, Ao Ti Store, Dong Pu Store, Hua Du Store, and Wan Bo Store.
4. Hotel Ownership and Management: Owns five hotels in Hong Kong and Mainland China, manages over 30 hotels across Hong Kong, Macau and Mainland China. Revenue from hotel room rentals and management fees.
5. Energy Projects: Power generation through GDH Energy (71.25% interest, 600 MW capacity) and Yudean Jinghai Power (25% interest, 3,200 MW capacity).
6. Road and Bridge Operations: Toll road revenue from Xingliu Expressway (G80 Guangzhou-Kunming Expressway portion, 100 km main line plus 53 km connection lines).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Guangdong Investment Limited operates as a diversified conglomerate with five core business segments: Water Resources (raw and tap water supply to Hong Kong, Shenzhen and Dongguan under a 30-year concession), Property Investment and Development (shopping malls and office towers), Department Store Operations, Hotel Operation and Management, and Infrastructure (power generation and toll roads). The group generates revenue from water supply fees, rental income, retail sales, hospitality services, and toll/electricity revenue across Hong Kong and Mainland China.

Product overview

Guangdong Investment Limited operates as a diversified conglomerate with five core business segments: Water Resources (including the Dongshen Water Supply Project providing water to Hong Kong, Shenzhen, and Dongguan, plus other water treatment projects), Property Investment and Development (managing shopping malls including Teem Plaza, Tianjin Teemmall, and Panyu Teemall, plus Guangdong Investment Tower in Hong Kong), Department Store Operations (operating Teemall and other department stores with total leased area of approximately 209,900 square metres), Hotel Operation and Management (owning and managing hotels including Wharney Hotel and Oasis Avenue in Hong Kong), and Infrastructure (including energy projects with 3,800 MW total capacity and the Xingliu Expressway toll road).

Differentiator

Problem solved

Functional benefit

Products and services

• Dongshen Water Supply Project A major water supply infrastructure project providing raw and natural water to Hong Kong, Shenzhen, and Dongguan regions, with comprehensive functions including water supply, flood prevention, irrigation, and electric power generation. Operated under a 30-year concession from August 2000 with a designed annual capacity of 2.423 billion tons.
• Teem Plaza (天河城广场)
• Tianjin YueHai Teem Shopping Mall A large-scale shopping mall in Tianjin with total gross floor area of approximately 205,000 square metres, of which 145,000 square metres is held for rental purposes.
• Panyu Teemall A shopping mall complex in Panyu Wanbo Central Business District with approximately 217,000 square metres total gross floor area and approximately 144,000 square metres of leasable commercial area.
• Guangdong Investment Tower (粤海投资大厦) A 28-storey commercial building on Connaught Road Central in Hong Kong, comprising office units and shop space, with total floor space of approximately 14,132 square metres. Office units are available for lease ranging from 785-7,733 sq ft.
• Teemall Department Store Operations Department store operations including Teemall Store, Ao Ti Store, Dong Pu Store, Hua Du Store, and Wan Bo Store, with total leased area of approximately 209,900 square metres. Operations conducted via GDH Teem and joint venture Guangdong Aeon Teem Commercial Co., Ltd.
• Wharney Hotel (Hong Kong) A hotel in Wanchai district of Hong Kong with approximately 360 guest rooms and suites, the first hotel in Hong Kong to receive ISO 9002 quality assurance certification.
• Oasis Avenue - A GDH Hotel A hotel in Tsimshatsui, Hong Kong with approximately 250 guest rooms and suites, situated close to main tourist attractions and shopping centres.
• Xingliu Expressway A toll road forming part of the G80 Guangzhou-Kunming Expressway, connecting Yunnan Province, Guangxi and Guangdong Province with approximately 100 km main line and 53 km connection lines.
• Zhongshan Power Project An energy project with two 300 MW heat and power generation units with total installed capacity of 600 MW, operated via Zhongshan GDH Energy Co., Ltd. (71.25% interest).
• Yudean Jinghai Power Project An energy project with four power generation units with total installed capacity of 3,200 MW, in which the Group holds 25% effective interest.

Quantifiable outcome

• Annual water supply capacity of 2.423 billion tons through Dongshen Water Supply Project
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Dongguan City Xiegang Town People's GovernmentcoreStrategic or Co-development Partner · 8 June 2016Public-private-partnership (PPP) agreement for development of A-grade highways, connecting roads and municipal roads (non-toll) and related ancillary support services in Yinping Innovation Zone, Dongguan. Group responsible for funding (up to RMB4.754 billion), project management and maintenance.
• Japanese Company (Aeon)coreStrategic or Co-development PartnerJoint venture in Guangdong Aeon Teem Commercial Co., Ltd. (GD Aeon Teem) where Guangdong Teemall Department Store Holdings Ltd. (76.13%-owned subsidiary) co-invests with a Japanese company. The Group holds 26.65% effective interest in GD Aeon Teem.
• Tricor Investor Services LimitedminorOthersShare registrar providing shareholder services, document handling, and corporate communications. Located at 17th Floor, Far East Finance Centre, 16 Harcourt Road, Hong Kong. Customer Service Hotline: (852) 2980 1333.
• Tricor Investor Services LimitedminorOthersShare registrar providing shareholder services and corporate communications distribution.

Scale indicators15 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• CLP Holdings Limited: Hong Kong-listed integrated utilities group with generation, transmission and retail operations across Hong Kong, Mainland China and Asia. Broad incumbent comparable for utility-style cashflows and Hong Kong-listed conglomerate governance.
• CK Asset Holdings Limited: Hong Kong-listed flagship of CK Hutchison with property investment and infrastructure assets including utility-like holdings. Comparable as a diversified Hong Kong-listed conglomerate with material property and infrastructure exposure.
• MTR Corporation Limited: Hong Kong-listed operator of rail transit and property holdings (Rail+Property model) with significant Mainland China and overseas rail concessions. Comparable as a Hong Kong-listed infrastructure/utility hybrid with government-linked concession revenue.
• Guangdong Land Holdings Limited: Fellow Hong Kong-listed subsidiary of Guangdong Holdings Limited focused on property development and investment. Sister company within the same state-owned group with overlapping property strategy and shared capital allocation.

Direct peers

• Wharf Real Estate Investment Company Limited: Hong Kong-listed pure-play investment property company owning Harbour City and Times Square. Comparable to GD Investment's Teem Plaza, Panyu Teemall, Tianjin Teemmall and Guangdong Investment Tower retail/office portfolio.
• Hopewell Highway Infrastructure Limited: Hong Kong-listed toll road operator running expressway and toll projects in Guangdong and other Chinese provinces. Direct comparable to GD Investment's Xingliu Expressway (G80 Guangzhou-Kunming) in asset type, geography, and revenue model.
• Beijing Enterprises Water Group Limited: Largest Hong Kong-listed water and wastewater treatment company, operating municipal concessions and BOT projects across Mainland China. Directly comparable to Guangdong Investment's water resources segment in business model and contract structure.
• China Resources Power Holdings Company Limited: Hong Kong-listed independent power producer with substantial coal-fired and renewable capacity across China. Comparable to GD Investment's interests in GDH Energy (600 MW) and Yudean Jinghai (3,200 MW) for power generation exposure.
• China Water Affairs Group Limited: Hong Kong-listed integrated water supplier with city-level supply concessions, sewage treatment and pipeline construction across multiple Chinese provinces. Closely comparable to GD Investment's non-Dongshen water portfolio in scale and concession-based revenue model.

Regional players

• Guangdong Water Group Co., Ltd. Provincial-level water utility controlled by the Guangdong government, operating water supply and treatment assets within the same home province. Highly relevant as a regional peer given the same controlling-shareholder ecosystem and overlapping service territory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Guangdong Investment