Buy Or Sell Opportunity • Jun 11
Now 21% overvalued Over the last 90 days, the stock has fallen 15% to €2.12. The fair value is estimated to be €1.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 42%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 44% per annum over the same time period. Upcoming Dividend • May 20
Upcoming dividend of HK$0.95 per share Eligible shareholders must have bought the stock before 27 May 2026. Payment date: 10 June 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.8%. Within top quartile of German dividend payers (4.5%). Higher than average of industry peers (3.9%). Declared Dividend • May 20
Final dividend of HK$0.95 announced Shareholders will receive a dividend of HK$0.95. Ex-date: 27th May 2026 Payment date: 10th June 2026 Dividend yield will be 40%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is not covered by earnings (208% earnings payout ratio). However, it is well covered by cash flows (14% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 131% to bring the payout ratio under control. EPS is expected to grow by 196% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Mar 23
Kerry Properties Limited, Annual General Meeting, May 22, 2026 Kerry Properties Limited, Annual General Meeting, May 22, 2026, at 14:30 China Standard Time. Announcement • Mar 06
Kerry Properties Limited to Report Fiscal Year 2025 Results on Mar 23, 2026 Kerry Properties Limited announced that they will report fiscal year 2025 results on Mar 23, 2026 Announcement • Aug 22
Kerry Properties Limited Announces Ordinary Interim Dividend for the Six Months Ended 30 June 2025, Payable on 23 September 2025 Kerry Properties Limited announced ordinary interim dividend of HKD 0.4 per share for the six months ended 30 June 2025. Ex-dividend date is 10 September 2025; Record date is 12 September 2025; Payment date is 23 September 2025. Announcement • Mar 21
Kerry Properties Limited Proposes Final Dividend for the Year Ended 31 December 2024, Payable on 10 June 2025 Kerry Properties Limited proposed final dividend for the year ended 31 December 2024 of HKD 0.95 per share. Ex-dividend date is 27 May 2025. Record date is 29 May 2025. Payment date is 10 June 2025. Date of shareholders' approval 23 May 2025. Announcement • Mar 19
Kerry Properties Limited, Annual General Meeting, May 23, 2025 Kerry Properties Limited, Annual General Meeting, May 23, 2025. Announcement • Mar 04
Kerry Properties Limited to Report Fiscal Year 2024 Results on Mar 19, 2025 Kerry Properties Limited announced that they will report fiscal year 2024 results on Mar 19, 2025 Upcoming Dividend • Sep 06
Upcoming dividend of HK$0.40 per share Eligible shareholders must have bought the stock before 11 September 2024. Payment date: 25 September 2024. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 9.2%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.4%). Announcement • Sep 06
Kerry Properties Limited (SEHK:683) agreed to acquire 10% stake in Great Billion Corporation Limited from Top Spring International Holdings Limited (SEHK:3688) for HKD 1. Kerry Properties Limited (SEHK:683) agreed to acquire 10% stake in Great Billion Corporation Limited from Top Spring International Holdings Limited (SEHK:3688) for HKD 1 on September 4, 2024. Reported Earnings • Aug 25
First half 2024 earnings released: EPS: HK$0.54 (vs HK$1.20 in 1H 2023) First half 2024 results: EPS: HK$0.54 (down from HK$1.20 in 1H 2023). Revenue: HK$5.04b (down 7.9% from 1H 2023). Net income: HK$788.0m (down 55% from 1H 2023). Profit margin: 16% (down from 32% in 1H 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 16% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 23
First half dividend of HK$0.40 announced Shareholders will receive a dividend of HK$0.40. Ex-date: 11th September 2024 Payment date: 25th September 2024 Dividend yield will be 33%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 76% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Aug 22
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.8% 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. This is currently the only risk that has been identified for the company. Announcement • Aug 21
Kerry Properties Limited Announces Interim Dividend for the Six Months Ended 30 June 2024, Payable on 25 September 2024 Kerry Properties Limited announced interim dividend of HKD 0.4 per share for the Six Months Ended 30 June 2024. Ex-dividend date is 11 September 2024. Record date is 13 September 2024. Payment date is 25 September 2024. Announcement • Aug 06
Kerry Properties Limited to Report First Half, 2024 Results on Aug 21, 2024 Kerry Properties Limited announced that they will report first half, 2024 results on Aug 21, 2024 Recent Insider Transactions • Jun 23
Chairman & CEO recently bought €589k worth of stock On the 18th of June, Khoon Hua Kuok bought around 356k shares on-market at roughly €1.65 per share. This transaction amounted to 5.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Khoon Hua has been a buyer over the last 12 months, purchasing a net total of €757k worth in shares. Upcoming Dividend • May 15
Upcoming dividend of HK$0.95 per share Eligible shareholders must have bought the stock before 22 May 2024. Payment date: 05 June 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 8.3%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.0%). Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: HK$2.24 (vs HK$1.90 in FY 2022) Full year 2023 results: EPS: HK$2.24 (up from HK$1.90 in FY 2022). Revenue: HK$13.1b (down 10% from FY 2022). Net income: HK$3.24b (up 18% from FY 2022). Profit margin: 25% (up from 19% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 22
Final dividend of HK$0.95 announced Shareholders will receive a dividend of HK$0.95. Ex-date: 22nd May 2024 Payment date: 5th June 2024 Dividend yield will be 60%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (60% earnings payout ratio) but not covered by cash flows (125% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 21
Full year 2023 earnings released: EPS: HK$2.23 (vs HK$1.90 in FY 2022) Full year 2023 results: EPS: HK$2.23 (up from HK$1.90 in FY 2022). Revenue: HK$13.1b (down 10% from FY 2022). Net income: HK$3.24b (up 18% from FY 2022). Profit margin: 25% (up from 19% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 17% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Announcement • Mar 06
Kerry Properties Limited to Report Fiscal Year 2023 Results on Mar 20, 2024 Kerry Properties Limited announced that they will report fiscal year 2023 results on Mar 20, 2024 Buy Or Sell Opportunity • Jan 31
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.8% to €1.46. The fair value is estimated to be €1.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 5.8% in 2 years. Earnings are forecast to grow by 132% in the next 2 years. Buying Opportunity • Jan 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.1%. The fair value is estimated to be €1.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 6.5% in 2 years. Earnings is forecast to grow by 136% in the next 2 years. Announcement • Oct 26
Kerry Properties Limited Announces Director Appointments with Effect from November 1, 2023 Kerry Properties Limited announced Director Appointments with effect from November 1, 2023. The company appointed Dr. Li Rui as an Independent Non-executive Director of the Company and a member of the Audit and Corporate Governance Committee of the Company; and Ms. Tong Shao Ming will be appointed as a Non-executive Director of the Company and a member of the ACGC. Dr. Li, aged 52, is the Adjunct Associate Professor at Institute for China Business of the University of Hong Kong. He has over 25 years of extensive experiences in corporate finance, capital market, and management consulting in China, the United States and Canada. Dr. Li was the Group Finance Director at Ping An Insurance Group ("PingAn") from 2017 to 2023. He was responsible for PingAn's finance strategy and operations on the insurance, banking, asset management, and technology businesses. Dr. Li was a director of Lufax Holding Ltd. (a listed company in New York and Hong Kong) from 2021 to 2022 and also a non-executive director of OneConnect Financial Technology Co. Ltd. (a listed company in New York and Hong Kong) from 2019 to 2021. Prior to that, Dr. Li served as the Chief Marketing Officer and the Chief Financial Officer at SF Express International. In addition, he provided strategy and management consulting to global Fortune 500 companies at large world-wide consulting firm. Dr. Li is a member of American Institute of Certified Public Accountants and Chartered Global Management Accountants. He earned the degree of Doctor of Philosophy in Finance from the International School of Management, Master of Business Administration degree from the Metropolitan State University and Bachelor of Science degree from the Winona State University. Ms. Tong, aged 48, has served as the investment director of Kerry Holdings Limited ("KHL") since 2010. KHL is the controlling shareholder (having the meaning ascribed to it under the Listing Rules) of the Company. Ms. Tong does not currently hold any position in the Company. Ms. Tong is a director of Kerry TJ Logistics Company Limited (a listed company in Taiwan) and a director of Yihai Kerry Arawana Holdings Co. Ltd. (a listed company in Shenzhen). She is also an alternate director to Mr. Kuok Khoon Hua (the Chairman and Chief Executive Officer of the Company) in his capacity as a non-executive and non-independent director of Wilmar International Limited (a listed company in Singapore). Ms. Tong was a non-executive director of Kerry Logistics Network Limited ("KLN") (a listed company in Hong Kong) from 2019 to 2021. Between 2009 and 2012, Ms. Tong served as the investment director of Wilmar International Limited. Between 2005 and 2008, Ms. Tong worked as an executive director in the equity capital markets department of UBS Group AG. Between 1998 and 2005, Ms. Tong worked as a solicitor in the London and Hong Kong offices of a law firm, Slaughter and May. Ms. Tong obtained a bachelor's degree in jurisprudence from Oxford University in 1997 and was admitted as a solicitor of England and Wales. Buying Opportunity • Sep 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be €2.02, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 12% in 2 years. Earnings is forecast to grow by 182% in the next 2 years. Upcoming Dividend • Sep 07
Upcoming dividend of HK$0.40 per share at 9.1% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 28 September 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 9.1%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.5%). Reported Earnings • Aug 30
First half 2023 earnings released: EPS: HK$1.20 (vs HK$1.89 in 1H 2022) First half 2023 results: EPS: HK$1.20 (down from HK$1.89 in 1H 2022). Revenue: HK$5.47b (up 18% from 1H 2022). Net income: HK$1.74b (down 37% from 1H 2022). Profit margin: 32% (down from 59% in 1H 2022). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Aug 30
Kerry Properties Limited Announces Interim Dividend for the Six Months Ended 30 June 2023, Payable on 28 September 2023 Kerry Properties Limited announced interim dividend of HKD 0.4 per share for the Six Months Ended 30 June 2023. Ex-dividend date is 14 September 2023. Record date is 18 September 2023. Payment date is 28 September 2023. Buying Opportunity • Aug 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 28%. The fair value is estimated to be €1.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 7.7%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings is also forecast to grow by 20% per annum over the same time period. Announcement • Aug 16
Kerry Properties Limited to Report First Half, 2023 Results on Aug 29, 2023 Kerry Properties Limited announced that they will report first half, 2023 results on Aug 29, 2023 Announcement • Jun 24
Kerry Properties Limited Announces Resignation of Mr. Cheung Leong as Independent Non-Executive Director, Effective on June 30, 2023 The board of directors of Kerry Properties Limited announced that Mr. Cheung Leong has tendered his resignation as an Independent Non-executive Director of the company with effect from 30 June 2023 to pursue a career opportunity that would necessitate his stepping down from all publicly listed commercial boards. Upon the effective date of his resignation, he will cease to be a member of the Audit and Corporate Governance Committee of the Company. Upcoming Dividend • May 26
Upcoming dividend of HK$0.95 per share at 7.6% yield Eligible shareholders must have bought the stock before 02 June 2023. Payment date: 16 June 2023. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 7.6%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (4.0%). Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: HK$1.90 (vs HK$7.11 in FY 2021) Full year 2022 results: EPS: HK$1.90 (down from HK$7.11 in FY 2021). Revenue: HK$14.6b (down 4.8% from FY 2021). Net income: HK$2.75b (down 73% from FY 2021). Profit margin: 19% (down from 68% in FY 2021). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 31% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improved over the past week After last week's 21% share price gain to €2.10, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 14x in the Real Estate industry in Germany. Total loss to shareholders of 3.3% over the past three years. Announcement • Nov 29
Kerry Properties Limited Appoints Cheng Wai Sin, Suzanne as Chief Financial Officer The board of directors of Kerry Properties Limited announced that Ms. Cheng Wai Sin, Suzanne has been appointed as the Chief Financial Officer of the Company with effect from 28 November 2022. Ms. Cheng has over 25 years of experience in accounting and finance for corporate and banking sectors. Prior to joining the Company, Ms. Cheng was the Chief Financial Officer of Hutchison Telecommunications Hong Kong Holdings Limited (a listed company in Hong Kong) since 2012. Ms. Cheng is a qualified accountant with membership of the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants. She holds a Master of Science degree in Finance. Recent Insider Transactions • Sep 01
Chairman & CEO recently bought €234k worth of stock On the 29th of August, Khoon Hua Kuok bought around 102k shares on-market at roughly €2.30 per share. This transaction amounted to 1.9% 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 Khoon Hua's only on-market trade for the last 12 months. Upcoming Dividend • Aug 26
Upcoming dividend of HK$0.40 per share Eligible shareholders must have bought the stock before 02 September 2022. Payment date: 16 September 2022. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 7.4%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (4.9%). Reported Earnings • Aug 19
First half 2022 earnings released: EPS: HK$1.89 (vs HK$2.59 in 1H 2021) First half 2022 results: EPS: HK$1.89 (down from HK$2.59 in 1H 2021). Revenue: HK$4.64b (down 27% from 1H 2021). Net income: HK$2.75b (down 27% from 1H 2021). Profit margin: 59% (in line with 1H 2021). Over the next year, revenue is forecast to grow 19% compared to a 47% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Aug 19
Kerry Properties Limited Announces Interim Dividend for the Six Months Ended 30 June 2022, Payable on 16 September 2022 Kerry Properties Limited announced Interim Dividend for the Six Months Ended 30 June 2022. For the period, the company announced dividend of HKD 0.4 per share with Ex-dividend date 02 September 2022; Record date 06 September 2022 & Payment date 16 September 2022. Board Change • Jun 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Deputy CEO & Executive Director Dennis Au was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 27
Executive Director recently sold €251k worth of stock On the 23rd of May, Bryan Pallop Gaw sold around 100k shares on-market at roughly €2.51 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • May 25
Kerry Properties Limited Announces Board Changes The board of directors of Kerry Properties Limited announced that Mr. Au Hing Lun, Dennis (Mr. Au) has been appointed as the Deputy ChiefExecutive Officer and an Executive Director of the Company with effect from 24 May 2022. Immediately upon the appointment of Mr. Au, he will become a member of each of the Executive Committee and the Finance Committee of the Company. Mr. Au has over 35 years of experience in accounting, finance, consultancy, business development and general management spanning across manufacturing, technology and real estate industries. Prior to joining the Company, Mr. Au was the managing director of real estate of the Chinachem Group where he headed up its real estate businesses from 2019 to 2022. Mr. Au was appointed as a non-executive director of ENM Holdings Limited (a listed company in Hong Kong), a related company of the Chinachem Group from August 2020 to April 2022. Prior to joining the Chinachem Group, Mr. Au worked for Computime Group Limited ("Computime") (a listed company in Hong Kong) where he held various senior positions, including executive director, deputy chief executive officer and a member of the executive committee. Mr. Au is a fellow member of the Association of Chartered Certified Accountants. Announcement • May 23
China Enterprises Limited entered into definitive sale and purchase agreement to acquire Two Warehouses in Hong Kong from Kerry Properties Limited (SEHK:683) for HKD 4.62 billion. China Enterprises Limited entered into definitive sale and purchase agreement to acquire Two Warehouses in Hong Kong from Kerry Properties Limited (SEHK:683) for HKD 4.62 billion on May 20, 2022. The transaction is expected to complete by June 30, 2022. Announcement • May 20
Kerry Properties Limited Announces Management Appointments Kerry Properties Limited announce that Mr. Kuok has been elected as the Chairman of the Company and appointed as the chairman of the Nomination Committee of the Company with effect from the conclusion of the AGM whilst continuing with his present role as the Chief Executive Officer of the Company. Mr. Kuok, aged 43, is also a member of the Company's Remuneration Committee, Finance Committee and Executive Committee. Mr. Kuok has been the Vice Chairman and the Chief Executive Officer of the Company since June 2019 and a Non-executive Director of the Company from June 2015 to May 2019. The Board further announced that Mr. Cheung and Mr. Chum have been appointed as INEDs of the Company and members of the Audit and Corporate Governance Committee of the Company with effect from the conclusion of the AGM. Mr. Cheung, aged 50, is the executive director of Charities & Community at The Hong Kong Jockey Club ("HKJC") since 2014 and responsible for the HKJC Charities Trust. He is also the co-chair of the Hong Kong Chapter of the United Nations' Sustainable Development Solutions Network and the co-founder of RunOurCity, an innovative social enterprise with the aim of transforming life through running. Prior to joining the HKJC, Mr. Cheung was an operating partner at Bain Capital. Prior to that, he was the managing director of Global Sourcing & Supply Chain at Esquel Group, and a senior consultant at the Boston Consulting Group. Mr. Cheung serves as the chairperson of the Hong Kong Special Administrative Region Government's Committee on Reduction of Salt and Sugar in Food, and a director of Hong Kong Mortgage Corporation Limited. Mr. Chum, aged 46, is the chief operating officer and an executive director of Sands China Ltd. Prior to joining the Las Vegas Sands group in 2013, Mr. Chum spent 14 years at UBS Investment Bank in a variety of roles, including serving as managing director, head of Hong Kong Equity Research and head of China Equity Research. Upcoming Dividend • May 17
Upcoming dividend of HK$0.95 per share Eligible shareholders must have bought the stock before 24 May 2022. Payment date: 07 June 2022. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 6.6%. Within top quartile of German dividend payers (4.3%). Higher than average of industry peers (4.2%). Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director David Hui was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 18
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: HK$7.11 (up from HK$3.71 in FY 2020). Revenue: HK$15.3b (up 5.5% from FY 2020). Net income: HK$10.4b (up 92% from FY 2020). Profit margin: 68% (up from 37% in FY 2020). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 18% compared to a 22% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorated over the past week After last week's 22% share price decline to €2.12, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Real Estate industry in Germany. Total loss to shareholders of 5.2% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.89 per share. Announcement • Sep 04
Kerry Properties Limited Announces Special Dividend, Payable on 06 October 2021 Kerry Properties Limited announced special dividend of HKD 2.3 per share. Payment date 06 October 2021. Record date 23 September 2021. Ex-dividend date 21 September 2021. Upcoming Dividend • Aug 27
Upcoming dividend of HK$0.40 per share Eligible shareholders must have bought the stock before 03 September 2021. Payment date: 17 September 2021. Trailing yield: 5.1%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 22
First half 2021 earnings released: EPS HK$2.59 (vs HK$0.74 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$6.37b (up 63% from 1H 2020). Net income: HK$3.77b (up 251% from 1H 2020). Profit margin: 59% (up from 27% in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Aug 20
Kerry Properties Limited Announces Special Dividend of HKD 2.3 Per Share Kerry Properties Limited announced special dividend of HKD 2.3 per share. Upcoming Dividend • May 24
Upcoming dividend of HK$0.95 per share Eligible shareholders must have bought the stock before 31 May 2021. Payment date: 11 June 2021. Trailing yield: 5.2%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.1%). Executive Departure • May 04
Company Secretary has left the company On the 1st of May, Siu Ching Li's tenure as Company Secretary ended after 15.3 years in the role. We don't have any record of a personal shareholding under Siu Ching's name. A total of 2 executives have left over the last 12 months. Announcement • Apr 30
Shenzhen Fantasia Property Development Group Co., Ltd. entered into an agreement to acquire Wealthy Plaza Development (Chengdu) Ltd. from Kerry Properties Limited (SEHK:683) and Allgreen Properties Limited for CNY 38.1 million. Shenzhen Fantasia Property Development Group Co., Ltd. entered into an agreement to acquire Wealthy Plaza Development (Chengdu) Ltd. from Kerry Properties Limited (SEHK:683) and Allgreen Properties Limited for CNY 38.1 million on April 29, 2021. The consideration will be paid in (i) 50% of the purchase consideration will be paid by the Purchaser within 5 working days from the date of the Agreements, (ii) 30% of the purchase consideration will be paid within 30 working days from the date of the Agreements, (iii) 20% of the purchase consideration will be paid by the Purchaser to an escrow account on or before the submission for registration of change with the Administration. Reported Earnings • Apr 17
Full year 2020 earnings released: EPS HK$3.71 (vs HK$4.74 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: HK$14.5b (down 19% from FY 2019). Net income: HK$5.40b (down 22% from FY 2019). Profit margin: 37% (down from 38% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 19
Full year 2020 earnings released: EPS HK$3.71 (vs HK$4.74 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: HK$14.5b (down 19% from FY 2019). Net income: HK$5.40b (down 22% from FY 2019). Profit margin: 37% (down from 38% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Mar 09
Kerry Properties Limited to Report Fiscal Year 2020 Results on Mar 18, 2021 Kerry Properties Limited announced that they will report fiscal year 2020 results on Mar 18, 2021 Announcement • Feb 24
Brilliant Return Limited, a Wholly-Owned Subsidiary of Kerry Properties Limited and RECO Iroko Private Limited Enter Shareholders' Agreement to Form the Project Company On 2 February 2021, Brilliant Return Limited ("Brilliant"), a wholly-owned subsidiary of Kerry Properties Limited and RECO entered into the Framework Agreement, pursuant to which the Parties agreed to form the Consortium and upon successful of the Tender Bid, to set up the Project Company to acquire, hold and develop the Project Land. On 23 February 2021, the Consortium received the Confirmation Notice from Shanghai Bureau that the Tender Bid is successful, and the land use right of the Project Land is granted to the Consortium. Accordingly, Brilliant and RECO will enter into the Shareholders' Agreement to form the Project Company, of which the equity interest will be owned by Brilliant and RECO as to 40% and 60% respectively. The Project Company will enter into the Land Grant Contract with Shanghai Bureau. The Tender Deposit of HKD 1,435,500,000 has been paid upon the submission of Tender Bid to meet the deposit requirement and the balance of the Consideration will be payable in accordance with the Land Grant Contract. The Parties will provide a total amount of shareholders' funds for the Consideration and relating taxes of not more than the Commitment Amount to the Project Company in accordance with their respective shareholding proportion in the Project Company. It is also envisaged that the Project Company will also consider procuring funds and/or financing from financial institutions and/or banks for the working capital requirements of the Project. The Project Land is designated for residential, office and commercial uses, with the total site area of approximately 66,059.5 square meters. The terms for the grant of the land use right of the Project Land are 70 years for residential use, 50 years for office use and 40 years for commercial use. The residential component will be for sale while the commercial and office component will be retained as properties to be managed and operated by the Project Company. Is New 90 Day High Low • Feb 17
New 90-day high: €2.42 The company is up 8.0% from its price of €2.24 on 19 November 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.44 per share. Is New 90 Day High Low • Dec 30
New 90-day low: €2.04 The company is down 4.0% from its price of €2.12 on 01 October 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.21 per share. Is New 90 Day High Low • Nov 09
New 90-day high: €2.24 The company is up 8.0% from its price of €2.08 on 11 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.43 per share. Announcement • Aug 11
Kerry Properties Limited to Report First Half, 2020 Results on Aug 20, 2020 Kerry Properties Limited announced that they will report first half, 2020 results on Aug 20, 2020 