|Bid||22.100 x 0|
|Ask||22.150 x 0|
|Day's Range||21.650 - 22.750|
|52 Week Range||17.900 - 30.150|
|Beta (3Y Monthly)||1.77|
|PE Ratio (TTM)||6.81|
|Earnings Date||Aug 26, 2019 - Aug 30, 2019|
|Forward Dividend & Yield||1.29 (5.68%)|
|1y Target Est||28.00|
The latest earnings announcement China Evergrande Group (HKG:3333) released in April 2019 revealed that the company...
Moody's Investors Service says in a new report that its rated Chinese property developers will continue to grow their market share in the second half of 2019, underpinned by stronger execution and improved access to funding. "The three-month moving average contracted sales value for the 29 developers that we track -- of the 64 that we rate -- rose 26% year-on-year in May compared to 22% in April, and outpacing the 10.4% national sales growth in May," says Cedric Lai, a Moody's Vice President and Senior Analyst.
China's property investment growth cooled in May and sales saw their biggest decline since October 2017, suggesting the frothy housing market may not be able to cushion the effects of a slumping manufacturing sector and intensifying trade tensions. Real estate investment, mainly focused on the residential sector but also including commercial and office space, is a major gauge of growth in the world's second-largest economy. China's property market has seen a recent resurgence as some local governments eased home purchase rules to boost economic activity, while Beijing's call for banks to ramp up lending and lower interest rates has also helped boost investor confidence.
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BENGALURU/HONG KONG (Reuters) - China's developers, the country's most leveraged sector, have finally got their rising debt piles under control and some even boast record amounts of cash, powered by strong earnings growth and restrained expansion, a Reuters analysis showed. Following a furious boom, China has tightened regulatory controls over its massive property market since mid-2016. The government's efforts to rein in excessive borrowing resulted in a record number of bond defaults in China last year, and market experts expect the trend to continue this year.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Hengda Real Estate Group Company Limited and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
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Guangzhou-based property developer Agile Group has made a foray into new energy vehicles (NEVs), teaming up with electric vehicle technology provider We Solutions Ltd to develop cars and build towns set up for NEVs. As part of the partnership, We Solutions said it sold HK$203 million ($26 million) worth of new shares to Agile, giving the property developer a 5.89 percent stake in the electric vehicle (EV) technology company's enlarged share base.
May 7 (Reuters) - China Evergrande Group: * APRIL CONTRACTED SALES OF PROPERTIES RMB58.41 BILLION, UP 15.9% Source text for Eikon: Further company coverage:
Editor’s note: This post originally appeared on TechNode, an editorial partnerof TechCrunch based in China
China Evergrande Group (HKG:3333) shareholders have seen the share price descend 10% over the month. But that doesn't undermine the fantastic longer term performance (measured over five years). In that time, the share...
China Evergrande Group became Asia's biggest bond market borrower so far this year after a $1 billion tap of its latest issue took the mainland property developers' total sales so far to $6.6 billion. China's third largest developer said on Monday it had sold $200 million (£152.7 million) in three-year notes, and an additional $400 million each in four- and five-year bonds. The notes carry coupons of between 9.5 and 10.5 percent, and have the same terms and conditions as $2 billion of bonds Evergrande sold last week.
Moody's Investors Service says that China Evergrande Group's B1 corporate family rating (CFR) and B2 senior unsecured debt rating are unaffected by the announced tap bond issuance on its existing $1.25 billion 9.5% notes due 2022, its $450 million 10.0% notes due 2023 and its $300 million 10.5% notes due 2024. Evergrande plans to use the proceeds from the tap issuance to refinance existing debt, for capital expenditure and for general corporate purposes. "The proposed tap bond issuance will not have a material impact on Evergrande's credit metrics, because a large portion of the proceeds will be used to refinance maturing debt," says Cedric Lai, a Moody's Vice President and Senior Analyst.
Moody's Investors Service has assigned B2 senior unsecured ratings to the USD notes to be issued by China Evergrande Group (B1 positive). Evergrande plans to use the proceeds from the proposed notes to refinance existing indebtedness and for capital expenditures, with the reminder for general corporate purposes. "The proposed bond issuance will provide China Evergrande Group with additional liquidity and lengthen its debt maturity profile, while the impact on its credit metrics will be limited, because it will use a large portion of the proceeds to refinance debt, ," says Cedric Lai, a Moody's Vice President and Senior Analyst.
China's Tencent Holdings Ltd is returning to the market with a U.S. dollar bond that could raise about $5 billion, two people with direct knowledge of the matter said. The social media and gaming giant launched the sale on Wednesday of five-year, seven-year, 10-year and 30-year dollar bonds, showed a term sheet seen by Reuters. The term sheet did not detail the amount Tencent is looking to raise.
April 2 (Reuters) - China Evergrande Group: * CONTRACTED SALES OF PROPERTIES FOR MONTH OF MARCH 2019 AMOUNTED TO APPROXIMATELY RMB54.90 BILLION Source text for Eikon: Further company coverage:
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As part of its much-awaited new energy policy, China on Tuesday rolled back its subsidies and imposed tougher performance requirements for electric vehicles. Beijing’s outlays will be reduced by around 60 percent, after an initial transition period that lasts until June, while local-government handouts will be terminated.