The independent financial analyst theScreener just lowered the general evaluation of CHINA EVERGRANDE (HK), active in the Real Estate Holding & Development industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Negative. As of the analysis date March 11, 2022, the closing price was HKD 1.46 a...
A director at China Evergrande Group sold 1,200,000,000 shares at 2.230HKD and the significance rating of the trade was 71/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
China Evergrande Group (CEG) is looking to raise about US$1bn from the selldown of 200m shares in China Evergrande New Energy Vehicle (ENEV). There is an upsize option of 100m shares. In this note, we will discuss our thoughts on the deal, compare ENEV performance to US-listed China EV companies, and run the deal through our ECM framework.
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 4...
As the Chinese property market enters a consolidation phase, large developers are expected to be the main beneficiary as smaller firms are pushed out of a market characterized by greater pricing pressure and tighter financing availability. Evergrande has done well over the last few years, achieving revenue and core profit growth of 28% and 16%, respectively, compounded annually from 2011 to 2016. It also greatly increased its land bank turnover in 2015 and 2016 after strong contract sales growth...
Reflecting a structural slowdown of the property market, Evergrande made several acquisitions in the electric car space in an effort to diversify away from its main residential property development business. Earlier this year, the company, through its subsidiary, Evergrande Health, acquired a 51% stake in National Electric Vehicle Sweden for USD 930 million. The acquired entity holds assets and rights related to Saab Automobile. It also acquired 58% of a Chinese battery maker for CNY 1.06 billio...
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 4...
KEY HIGHLIGHTS CHINA Strategy Alpha Picks: Greater China March Conviction List Add GMW and Q Tech to our SELL list. Sector Cement Takeaways from conference call; more positive on CNBM. Property Weekly wrap-up: Transactions in tier-1 and -2 cities rebound. TRADERS’ CORNER Ascletics-B (1672 HK): Trading Buy Range Evergrande (3333 HK): Trading Buy Range
Reflecting a structural slowdown of the property market, Evergrande made several acquisitions in the electric car space in an effort to diversify away from its main residential property development business. Earlier this year, the company, through its subsidiary, Evergrande Health, acquired a 51% stake in National Electric Vehicle Sweden for USD 930 million. The acquired entity holds assets and rights related to Saab Automobile. It also acquired 58% of a Chinese battery maker for CNY 1.06 billio...
Reflecting a structural slowdown of the property market, Evergrande made several acquisitions in the electric car space in an effort to diversify away from its main residential property development business. Earlier this year, the company, through its subsidiary, Evergrande Health, acquired a 51% stake in National Electric Vehicle Sweden for USD 930 million. The acquired entity holds assets and rights related to Saab Automobile. It also acquired 58% of a Chinese battery maker for CNY 1.06 billio...
Chinese media outlets reported on Sept. 21 that the Guangdong Real Estate Association had issued a notice, "Emergency Notice on Opinions Regarding Pre-sales Permits for Commodity Housings." The notice referenced a document from the Ministry of Housing and Urban-Rural Development. The MOHURD document contains a paragraph requesting six provincial branches of MOHURD to provide comments on modifying the current presale practice. The current presale practice allows a developer to receive sales proc...
Chinese media outlets reported on Sept. 21 that the Guangdong Real Estate Association had issued a notice, "Emergency Notice on Opinions Regarding Pre-sales Permits for Commodity Housings." The notice referenced a document from the Ministry of Housing and Urban-Rural Development. The MOHURD document contains a paragraph requesting six provincial branches of MOHURD to provide comments on modifying the current presale practice. The current presale practice allows a developer to receive sales proc...
China Evergrande Group's, or Evergrande's, interim 2018 results were above our estimate, driven by faster booking, stronger margin and lower expenses. The company reported net profit of CNY 53 billion and core business profit of CNY 55 billion, up 129% and 102% year on year. Accounting the strategic investors' injection of capital into the company's onshore entity, the minority shareholders are entitled to approximately 42% of earnings during the period. Excluding the impact of gain on disposals...
China Evergrande Group's, or Evergrande's, interim 2018 results were above our estimate, driven by faster booking, stronger margin and lower expenses. The company reported net profit of CNY 53 billion and core business profit of CNY 55 billion, up 129% and 102% year on year. Accounting the strategic investors' injection of capital into the company's onshore entity, the minority shareholders are entitled to approximately 42% of earnings during the period. Excluding the impact of gain on disposals...
China Evergrande Group has announced that the board has declared a dividend of RMB 1.130 per share for two financial years ending in 2016 and 2017, subject to shareholder approval. The dividend amount is equal to 50% of the earnings for these two financial years. We adjusted our assumptions on dividend payouts based on the proposed dividend in lieu of a special dividend upon a successful A-share listing, and the resultant impact on our valuation is small. We retain our fair value estimate of HKD...
China Evergrande Group has announced that the board has declared a dividend of RMB 1.130 per share for two financial years ending in 2016 and 2017, subject to shareholder approval. The dividend amount is equal to 50% of the earnings for these two financial years. We adjusted our assumptions on dividend payouts based on the proposed dividend in lieu of a special dividend upon a successful A-share listing, and the resultant impact on our valuation is small. We retain our fair value estimate of HKD...
China Evergrande Group, or Evergrande, announced a positive profit alert for first-half 2018. The company expects its aftertax net profit and net profit from the core business to increase by 125% and 100% year on year, respectively. Further, the company expects its net gearing ratio to decline to 130% from 184%. The market reacted positively to the news by bidding the company's shares up more than 20%. Our reaction is more muted on the account of slowing contract sales momentum, despite the fast...
China Evergrande Group, or Evergrande, announced a positive profit alert for first-half 2018. The company expects its aftertax net profit and net profit from the core business to increase by 125% and 100% year on year, respectively. Further, the company expects its net gearing ratio to decline to 130% from 184%. The market reacted positively to the news by bidding the company's shares up more than 20%. Our reaction is more muted on the account of slowing contract sales momentum, despite the fast...
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