Upcoming Dividend • May 22
Upcoming dividend of HK$0.90 per share Eligible shareholders must have bought the stock before 29 May 2026. Payment date: 16 July 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 5.7%. Lower than top quartile of Hong Kong dividend payers (6.9%). Higher than average of industry peers (4.0%). Recent Insider Transactions • May 17
CEO & Executive Director recently sold HK$8.2m worth of stock On the 13th of May, Meitan Tian sold around 446k shares on-market at roughly HK$18.31 per share. This transaction amounted to 64% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Meitan has been a net seller over the last 12 months, reducing personal holdings by HK$14m. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$17.55, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Real Estate industry in Hong Kong. Negligible returns to shareholders over past three years. Reported Earnings • May 05
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CN¥1.58 (down from CN¥2.38 in FY 2024). Revenue: CN¥136.8b (down 4.3% from FY 2024). Net income: CN¥3.18b (down 25% from FY 2024). Profit margin: 2.3% (down from 3.0% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 28%. Revenue is expected to decline by 5.0% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Hong Kong are expected to grow by 2.4%. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 14% per year. Major Estimate Revision • Apr 07
Consensus revenue estimates fall by 12% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥138.8b to CN¥122.6b. EPS estimate fell from CN¥1.96 to CN¥1.63 per share. Net income forecast to grow 16% next year vs 34% growth forecast for Real Estate industry in Hong Kong. Consensus price target down from HK$21.10 to HK$18.40. Share price rose 3.6% to HK$13.06 over the past week. Declared Dividend • Mar 27
Dividend of HK$0.90 announced Shareholders will receive a dividend of HK$0.90. Ex-date: 29th May 2026 Payment date: 16th July 2026 Dividend yield will be 7.0%, which is higher than the industry average of 6.6%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has increased by an average of 29% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 26
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CN¥1.58 (down from CN¥2.38 in FY 2024). Revenue: CN¥136.8b (down 4.3% from FY 2024). Net income: CN¥3.18b (down 25% from FY 2024). Profit margin: 2.3% (down from 3.0% in FY 2024). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 24%. Revenue is expected to decline by 1.5% p.a. on average during the next 2 years, while revenues in the Real Estate industry in Hong Kong are expected to grow by 2.8%. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Mar 25
C&D International Investment Group Limited, Annual General Meeting, May 27, 2026 C&D International Investment Group Limited, Annual General Meeting, May 27, 2026. Announcement • Mar 13
C&D International Investment Group Limited to Report Fiscal Year 2025 Results on Mar 25, 2026 C&D International Investment Group Limited announced that they will report fiscal year 2025 results on Mar 25, 2026 Recent Insider Transactions • Dec 02
Executive Director recently sold HK$1.7m worth of stock On the 24th of November, Chengmin Zhao sold around 99k shares on-market at roughly HK$17.19 per share. This transaction amounted to 4.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$22m more than they bought in the last 12 months. Announcement • Nov 28
C&D International Investment Group Limited Announces Committee Changes, Effective November 28, 2025 The Board of Directors of C&D International Investment Group Limited announced that Ms. Zhao Chengmin, an executive Director, has been appointed as a member of the nomination committee of the Company; Mr. Dai Yiyi, an independent non-executive Director, has been appointed as the chairman of the Nomination Committee; and Mr. Lin Weiguo, an executive Director, has ceased to act as the chairman and member of the Nomination Committee, with effect from 28 November 2025. Reported Earnings • Sep 23
First half 2025 earnings released: EPS: CN¥0.48 (vs CN¥0.47 in 1H 2024) First half 2025 results: EPS: CN¥0.48 (up from CN¥0.47 in 1H 2024). Revenue: CN¥34.2b (up 4.3% from 1H 2024). Net income: CN¥913.7m (up 12% from 1H 2024). Profit margin: 2.7% (up from 2.5% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.2% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 4% per year. Recent Insider Transactions • Aug 30
Executive Director recently sold HK$3.2m worth of stock On the 25th of August, Yixuan Xu sold around 169k shares on-market at roughly HK$18.85 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$8.7m more than they bought in the last 12 months. Reported Earnings • Aug 25
First half 2025 earnings released: EPS: CN¥0.48 (vs CN¥0.47 in 1H 2024) First half 2025 results: EPS: CN¥0.48 (up from CN¥0.47 in 1H 2024). Revenue: CN¥34.2b (up 4.3% from 1H 2024). Net income: CN¥913.7m (up 12% from 1H 2024). Profit margin: 2.7% (up from 2.5% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Hong Kong are expected to grow by 3.4%. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Aug 12
C&D International Investment Group Limited to Report First Half, 2025 Results on Aug 22, 2025 C&D International Investment Group Limited announced that they will report first half, 2025 results on Aug 22, 2025 Announcement • Aug 06
C&D International Investment Group Limited has completed a Follow-on Equity Offering in the amount of HKD 1.02068 billion. C&D International Investment Group Limited has completed a Follow-on Equity Offering in the amount of HKD 1.02068 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 64,600,000
Price\Range: HKD 15.8
Transaction Features: Subsequent Direct Listing Announcement • Jul 23
C&D International Investment Group Limited has filed a Follow-on Equity Offering in the amount of HKD 1.02068 billion. C&D International Investment Group Limited has filed a Follow-on Equity Offering in the amount of HKD 1.02068 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 64,600,000
Price\Range: HKD 15.8
Transaction Features: Subsequent Direct Listing Announcement • May 23
C&D International Investment Group Limited Approves Final Dividend for the Year Ended December 31, 2024 C&D International Investment Group Limited at its AGM held on May 23, 2025 declared a final dividend of HKD 1.20 per share for the year ended 31 December 2024 by way of cash or scrip dividend scheme. Upcoming Dividend • May 20
Upcoming dividend of HK$1.20 per share Eligible shareholders must have bought the stock before 27 May 2025. Payment date: 08 July 2025. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 8.0%. Within top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (5.2%). Reported Earnings • May 01
Full year 2024 earnings: EPS in line with analyst expectations despite revenue beat Full year 2024 results: EPS: CN¥2.38 (down from CN¥2.61 in FY 2023). Revenue: CN¥143.0b (up 6.4% from FY 2023). Net income: CN¥4.27b (down 1.6% from FY 2023). Profit margin: 3.0% (down from 3.2% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 4.4% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 6% per year. Recent Insider Transactions • Apr 19
Executive Director recently sold HK$4.4m worth of stock On the 11th of April, Chengmin Zhao sold around 260k shares on-market at roughly HK$16.92 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$13m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$17.08, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Real Estate industry in Hong Kong. Total returns to shareholders of 10.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$19.32 per share. Buy Or Sell Opportunity • Apr 07
Now 22% undervalued Over the last 90 days, the stock has risen 23% to HK$14.82. The fair value is estimated to be HK$18.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 31% over the last 3 years. Earnings per share has declined by 3.9%. For the next 3 years, revenue is forecast to decline by 0.8% per annum. Earnings are forecast to grow by 5.7% per annum over the same time period. Announcement • Mar 14
C&D International Investment Group Limited to Report Fiscal Year 2024 Results on Mar 26, 2025 C&D International Investment Group Limited announced that they will report fiscal year 2024 results on Mar 26, 2025 Buy Or Sell Opportunity • Feb 18
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at HK$13.94. The fair value is estimated to be HK$17.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 2.9% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Buy Or Sell Opportunity • Nov 13
Now 22% undervalued Over the last 90 days, the stock has risen 12% to HK$14.50. The fair value is estimated to be HK$18.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 5.4% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to HK$15.06, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Real Estate industry in Hong Kong. Total returns to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$19.19 per share. Buy Or Sell Opportunity • Oct 09
Now 22% undervalued Over the last 90 days, the stock has risen 1.8% to HK$15.06. The fair value is estimated to be HK$19.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 37% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 5.4% in 2 years. Earnings are forecast to grow by 36% in the next 2 years. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$12.14, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 6x in the Real Estate industry in Hong Kong. Total returns to shareholders of 3.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$19.10 per share. Recent Insider Transactions • Sep 21
Executive Director recently bought HK$10m worth of stock On the 17th of September, Meitan Tian bought around 1m shares on-market at roughly HK$10.24 per share. This transaction increased Meitan's direct individual holding by 7x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$13m more in shares than they have sold in the last 12 months. New Risk • Sep 14
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.7% net profit margin). Shareholders have been diluted in the past year (9.3% increase in shares outstanding). Significant insider selling over the past 3 months (HK$5.5m sold). Announcement • Aug 30
C&D International Investment Group Limited Announces Executive Changes The board of directors of C&D International Investment Group Limited announced that Ms. Kam Mei Ha Wendy (``Ms. Kam'') has tendered her resignation as the company secretary of the Company (the ``Company Secretary'') and ceased to act as an authorized representative of the Company (the ``Authorized Representative'') under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ``Stock Exchange'') both with effect from 30 August 2024. Following the resignation of Ms. Kam, the Board announced that Mr. Yau Tsz Lun (``Mr. Yau'') has been appointed as the Company Secretary and the Authorized Representative both with effect from 30 August 2024. Mr. Yau is a Manager of Company Secretarial Services of Tricor Services Limited. Mr. Yau has over 6 years of experience in the company secretarial field. He has been providing professional corporate services to Hong Kong listed companies as well as multinational, private and offshore companies. Mr. Yau is a Chartered Secretary, a Chartered Governance Professional and an Associate of both The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. Major Estimate Revision • Aug 29
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥142.9b to CN¥140.3b. EPS estimate also fell from CN¥2.54 per share to CN¥2.27 per share. Net income forecast to grow 28% next year vs 21% growth forecast for Real Estate industry in Hong Kong. Consensus price target down from HK$18.74 to HK$16.88. Share price fell 4.1% to HK$12.14 over the past week. Reported Earnings • Aug 24
First half 2024 earnings released: EPS: CN¥0.47 (vs CN¥0.80 in 1H 2023) First half 2024 results: EPS: CN¥0.47 (down from CN¥0.80 in 1H 2023). Revenue: CN¥32.8b (up 35% from 1H 2023). Net income: CN¥817.1m (down 36% from 1H 2023). Profit margin: 2.5% (down from 5.3% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Aug 12
C&D International Investment Group Limited to Report Q2, 2024 Results on Aug 22, 2024 C&D International Investment Group Limited announced that they will report Q2, 2024 results on Aug 22, 2024 Buy Or Sell Opportunity • Jul 02
Now 22% undervalued Over the last 90 days, the stock has risen 9.5% to HK$15.02. The fair value is estimated to be HK$19.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 7.3% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. New Risk • Jun 22
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: HK$8.8m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (9.1% increase in shares outstanding). Significant insider selling over the past 3 months (HK$8.8m sold). Buy Or Sell Opportunity • Jun 20
Now 21% undervalued Over the last 90 days, the stock has risen 7.8% to HK$15.12. The fair value is estimated to be HK$19.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 7.3% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Buy Or Sell Opportunity • Jun 03
Now 21% undervalued Over the last 90 days, the stock has risen 33% to HK$15.40. The fair value is estimated to be HK$19.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 7.3% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • May 25
C&D International Investment Group Limited Approves Final Dividend for the Year Ended December 31, 2023 C&D International Investment Group Limited announced at annual general meeting held on May 24, 2024, the shareholders approved final dividend of HKD 1.3 per share for the year ended December 31, 2023. Upcoming Dividend • May 21
Upcoming dividend of HK$1.30 per share Eligible shareholders must have bought the stock before 28 May 2024. Payment date: 08 July 2024. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 7.1%. Lower than top quartile of Hong Kong dividend payers (7.4%). Higher than average of industry peers (5.1%). Recent Insider Transactions • May 17
Executive Chairperson recently sold HK$2.4m worth of stock On the 13th of May, Chengmin Zhao sold around 132k shares on-market at roughly HK$18.41 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Chengmin's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • May 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$17.00, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Real Estate industry in Hong Kong. Total returns to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$19.55 per share. Reported Earnings • May 01
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥2.61. Revenue: CN¥134.4b (up 35% from FY 2022). Net income: CN¥4.34b (up 2.8% from FY 2022). Profit margin: 3.2% (down from 4.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) missed analyst estimates by 8.8%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Real Estate industry in Hong Kong. Announcement • May 01
C&D International Investment Group Limited, Annual General Meeting, May 24, 2024 C&D International Investment Group Limited, Annual General Meeting, May 24, 2024, at 11:00 China Standard Time. Location: Office No.3517, Internation Wu Chung House, 213 Queen's Road East, Wanchai, Hong Kong wanchai Hong Kong Agenda: To receive and approve the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors and the auditors of the Company for the year ended 31 December 2023; To declare a final dividend of HK$1.3 per share for the year ended 31 December 2023 by way of cash or scrip dividend scheme; To re-elect Ms. Zhao Chengmin as an executive director of the Company; To re-elect Ms. Ye Yanliu as a non-executive director of the Company; To re-elect Mr. Wong Tat Yan, Paul as an independent non-executive director of the Company. Announcement • Apr 30
C&D International Investment Group Limited Announces Change of Executive Director The board of directors of C&D International Investment Group Limited announced that, with effect from 29 April 2024, (i) Mr. Peng Yong (Mr. Peng) has resigned as an executive Director due to his personal development which require more of his time and dedication; and (ii) Mr. Xu Yixuan (Mr. Xu) has been appointed as an executive Director. Mr. Xu, aged 45, joined C&D Real Estate Corporation Limited (C&D Real Estate) in 2004 and served as deputy general manager of Design Management Center, general manager of Engineering Management Center, general manager of Xiamen Business Department, general manager of Southeast Regional Branch, etc. He is currently the deputy general manager of C&D Real Estate, the chairman of the Southeast cluster of C&D Real Estate and the director of certain subsidiaries of C&D Real Estate and the Company. Mr. Xu has been appointed as a non-executive director of C&D Property Management Group Co. Ltd. (a company listed on The Stock Exchange of Hong Kong Limited, with effect from 25 August 2022. Mr. Xu graduated from Fuzhou University with a bachelor's degree in Art Theory, and is an industrial artist. Recent Insider Transactions • Apr 11
Executive Director recently bought HK$21m worth of stock On the 8th of April, Meitan Tian bought around 2m shares on-market at roughly HK$13.30 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$93m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Mar 27
Executive Director recently bought HK$8.5m worth of stock On the 22nd of March, Meitan Tian bought around 661k shares on-market at roughly HK$12.85 per share. This transaction increased Meitan's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought HK$52m more in shares than they have sold in the last 12 months. Declared Dividend • Mar 25
Dividend of HK$1.30 announced Shareholders will receive a dividend of HK$1.30. Ex-date: 28th May 2024 Payment date: 8th July 2024 Dividend yield will be 9.6%, which is higher than the industry average of 6.6%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has increased by an average of 56% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Declared Dividend • Mar 23
Dividend of HK$1.30 announced Shareholders will receive a dividend of HK$1.30. Ex-date: 28th May 2024 Payment date: 8th July 2024 Dividend yield will be 9.3%, which is higher than the industry average of 6.6%. Sustainability & Growth Dividend is well covered by both earnings (45% earnings payout ratio) and cash flows (4% cash payout ratio). The dividend has increased by an average of 56% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 22
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: CN¥2.61. Revenue: CN¥134.4b (up 35% from FY 2022). Net income: CN¥5.03b (up 19% from FY 2022). Profit margin: 3.7% (down from 4.2% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) missed analyst estimates by 8.8%. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Real Estate industry in Hong Kong. Announcement • Mar 22
C&D International Investment Group Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable on July 08, 2024 C&D International Investment Group Limited proposed final dividend of HKD 1.3 per share for the year ended December 31, 2023. Date of shareholders approval is May 24, 2024. Ex-dividend date is May 28, 2024. Record date is May 31, 2024. Payment date is July 08, 2024. Announcement • Mar 12
C&D International Investment Group Limited to Report Fiscal Year 2023 Final Results on Mar 21, 2024 C&D International Investment Group Limited announced that they will report fiscal year 2023 final results on Mar 21, 2024 Buying Opportunity • Jan 08
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be HK$18.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 56% in the next 2 years. Buying Opportunity • Dec 05
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be HK$19.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 56% in the next 2 years. New Risk • Oct 07
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: HK$2.5m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (16% increase in shares outstanding). Significant insider selling over the past 3 months (HK$2.5m sold). Recent Insider Transactions • Sep 06
Executive Director recently sold HK$2.5m worth of stock On the 30th of August, Yong Peng sold around 116k shares on-market at roughly HK$21.20 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought HK$31m more than they sold in the last 12 months. Reported Earnings • Aug 26
First half 2023 earnings released: EPS: CN¥0.80 (vs CN¥0.60 in 1H 2022) First half 2023 results: EPS: CN¥0.80 (up from CN¥0.60 in 1H 2022). Revenue: CN¥24.4b (up 44% from 1H 2022). Net income: CN¥1.28b (up 53% from 1H 2022). Profit margin: 5.3% (up from 5.0% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Aug 16
C&D International Investment Group Limited to Report Q2, 2023 Results on Aug 25, 2023 C&D International Investment Group Limited announced that they will report Q2, 2023 results on Aug 25, 2023 Recent Insider Transactions • Jun 15
Executive Chairperson recently bought HK$19m worth of stock On the 12th of June, Chengmin Zhao bought around 1m shares on-market at roughly HK$18.62 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Chengmin's only on-market trade for the last 12 months. Announcement • May 31
C&D International Investment Group Limited Declare A Final Dividend for the Year Ended 31 December 2022 C&D International Investment Group Limited announced at the AGM held on May 30, 2023 that the company approved to declare a final dividend of HKD 1.3 per share for the year ended 31 December 2022 by way of cash or scrip dividend scheme. Upcoming Dividend • May 25
Upcoming dividend of HK$1.30 per share at 6.2% yield Eligible shareholders must have bought the stock before 01 June 2023. Payment date: 07 July 2023. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 6.2%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (5.3%). Announcement • May 11
C&D International Investment Group Limited Announces Board Changes The board of directors of C&D International Investment Group Limited announced that Mr. Wang Wenhuai has resigned his position as a non-executive Director as he wishes to devote more time on his other business engagements; and Mr. Zheng Yongda has been appointed as a non-executive Director with effect from 10 May 2023. Mr. Zheng, aged 52, joined Xiamen C&D Corporation Limited in 1993, and is currently the deputy secretary of the party committee, a director and the general manager of Xiamen C&D and the secretary of the party committee and the chairman of Xiamen C&D Inc. and a vice chairman of Red Star Macalline Group Corporation Ltd., a director of C&D Real Estate Corporation Limited, a director of Lianfa Group Company Limited and a director of some other subsidiaries of Xiamen C&D and C&D Inc. (not of the Group). He has served as positions such as the general manager of Xiamen C&D Paper & Pulp Co. Ltd., the deputy secretary of the party committee, the standing vice general manager and the general manager of C&D Inc. and the deputy general manager of Xiamen C&D. Mr. Zheng graduated from Xiamen University with a Bachelor's degree in Economics, majoring in international trade, in July 1993. Mr. Zheng has entered into a service agreement with the Company. Under the service agreement, his tenure of office will take effect on 10 May 2023 for a term of three years, which will be automatically renewed for one year from the next day upon expiry of each term. The appointment of Mr. Zheng as the non-executive Director is subject to retirement by rotation and re-election by Shareholders at the upcoming annual general meeting of the Company according to the articles of association of the Company. Mr. Zheng will not receive any Director's emolument as a non-executive Director but may be entitled to such discretionary bonus and/or other benefits as may be determined by and at the sole discretion of the Board upon the recommendation of the remuneration committee of the Board from time to time. Reported Earnings • Mar 31
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: CN¥2.84 (up from CN¥2.54 in FY 2021). Revenue: CN¥99.6b (up 86% from FY 2021). Net income: CN¥4.22b (up 33% from FY 2021). Profit margin: 4.2% (down from 5.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 53%. Earnings per share (EPS) missed analyst estimates by 3.7%. Revenue is expected to decline by 2.9% p.a. on average during the next 2 years, while revenues in the Real Estate industry in Hong Kong are expected to grow by 8.9%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Jan 10
Executive Director recently sold HK$6.7m worth of stock On the 5th of January, Meitan Tian sold around 279k shares on-market at roughly HK$24.05 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$4.0m more than they bought in the last 12 months. 
