New Morningstar Analyst Report for China Evergrande Group
China Evergrande Group, or Evergrande’s, full-year 2018 results were slightly above our estimate. The company reported net profit excluding exchange losses of CNY 72 billion. Excluding revaluation gain, we estimated core net profit of CNY 71 billion. With the strategic investors’ injection of capital into the company’s onshore entity, the minority shareholders are entitled to approximately one third of the earnings during the year. Accounting for this, the core profit attributable is CNY 45 bill...China Evergrande Group is an investment holding company. Through its subsidiaries, Co. is engaged in property development, property investment, property management, property construction and other property development related services in the People's Republic of China (which include resort complexes with hotels, sports arenas, and other tourist-related activities). Co.'s operations are organized along four business segments: property development, property investment, property management and other businesses. Co.'s other businesses include property construction and other property development related services.
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