|Bid||35.400 x 0|
|Ask||35.450 x 0|
|Day's Range||34.850 - 35.800|
|52 Week Range||23.950 - 40.500|
|Beta (5Y Monthly)||0.52|
|PE Ratio (TTM)||7.52|
|Earnings Date||Mar 29, 2023|
|Forward Dividend & Yield||1.69 (4.72%)|
|Ex-Dividend Date||Sep 14, 2022|
|1y Target Est||45.82|
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Beijing has encouraged state-owned property companies to step in and take over their ailing private peers’ projects and assets, but the call has gone largely unheeded.
China's state-owned enterprises (SOEs) have made their presence felt in Hong Kong over the years. Some of their major businesses and brands are household names to the locals, but the owners behind them are less well-known. For example, supermarket chain City'super is controlled by a unit of China Resources (Holdings) following its purchase in August 2020. Disneyland's Fantasyland on Lantau Island was built by China Overseas Holdings' construction arm. Many of these SOEs have also tapped into the
Chinese developers are heeding Beijing's call and accelerating a push into asset-light businesses such as property services and commercial real estate to cut their reliance on a high-debt, high-turnover model blamed for a liquidity crisis in the sector. KWG Group Holdings, CIFI Holdings and state-backed China Resources Land were among developers that listed diversification plans along with their recent financial results. The diversification moves come even as property companies are targeting asset sales to raise cash for repaying creditors and, according to analysts and developers, will pile cost pressure on the smaller firms.