Cold-Molding refers to a construction method where hull planking consists of multiple layers of wood laminated together using epoxy. Whether the wood is solid timber, veneer, or plywood makes no difference. Composite construction refers to "strongly bonded dissimilar materials". In modern boatbuilding, composite construction refers to a foam core with mixed skins of carbon, kevlar, and various fiberglass reinforcements. The boat in the original post is built using cold-molded construction methods, and is sheathed with fiberglass. The reference to composite is a dodge, so the broker doesn't have to mention the dreaded "W" word. It's arguable how much strength the fiberglass adds to the structure, but it's not a lot. Mostly it will add abrasion resistance and some puncture resistance.
The picture shows a section of Scheherazade's cold-molded hull sitting here in my office. She's the 154' ketch built by Hodgdon's and posted above by TDunn. I'm one of her designers. As you can see the hull is built of 7 layers, and its close to 3.5" thick in total. The inner layer is vee-jointed tongue and groove fir, 3/4" thick with the grain running fore and aft. In the middle are four diagonal layers of 3/8" red cedar. In high-load areas (keel bolts, chain plates, rigging, etc.) mahogany is substituted for the RC. The outer layer of planking is another 3/4" douglas fir running fore and aft. Finally a sheathing of fiberglass, in this case pretty heavy biax or triaxial almost 1/16th thick. Towards the bottom of the block you can see one of the plastic nails used between layers to hold them in place while the epoxy sets.