Live News • May 14
China Overseas Land Sales Add 20% as Brokers Lift Outlook and Price Targets Everbright Securities kept a positive rating on China Overseas Property, citing a strong cash position and a higher dividend payout ratio, and highlighted a 20% year-on-year rise in April sales at China Overseas Land & Investment.
China Overseas Property Holdings expects revenue to rise 6% and its dividend payout ratio to increase 9.3% by 2025, supported in part by consolidating China Construction Property through a 70% stake acquisition.
Bank of America Securities reiterated a positive stance on China Overseas Land & Investment, raising its target price to HK$14.5 and pointing to early signs of recovery in the mainland property market and improving residential contract sales in April.
Taken together, broker commentary points to improving sentiment around China Overseas Land & Investment, with attention on its project pipeline, land reserves and links to a recovering mainland property market.
Investors may want to watch how margins, cash generation and dividend policies evolve over the next few reporting periods relative to these expectations, as well as any shifts in China’s property policy that could affect sales and profitability. Price Target Changed • May 13
Price target increased by 12% to HK$17.25 Up from HK$15.41, the current price target is an average from 13 analysts. New target price is 5.1% above last closing price of HK$16.41. Stock is up 20% over the past year. The company is forecast to post earnings per share of CN¥1.15 for next year compared to CN¥1.16 last year. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$15.48, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 12x in the Real Estate industry in Hong Kong. Total loss to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$22.74 per share. Announcement • Apr 13
China Overseas Land & Investment Limited to Report Q1, 2026 Results on Apr 29, 2026 China Overseas Land & Investment Limited announced that they will report Q1, 2026 results on Apr 29, 2026 Price Target Changed • Apr 08
Price target decreased by 7.4% to HK$15.29 Down from HK$16.51, the current price target is an average from 14 analysts. New target price is 31% above last closing price of HK$11.67. Stock is down 11% over the past year. The company is forecast to post earnings per share of CN¥1.20 for next year compared to CN¥1.16 last year. Declared Dividend • Apr 02
Final dividend of HK$0.25 announced Shareholders will receive a dividend of HK$0.25. Ex-date: 26th June 2026 Payment date: 15th July 2026 Dividend yield will be 4.3%, which is lower than the industry average of 6.6%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 01
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥1.16 (down from CN¥1.43 in FY 2024). Revenue: CN¥168.1b (down 9.2% from FY 2024). Net income: CN¥12.7b (down 19% from FY 2024). Profit margin: 7.6% (down from 8.4% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 16% per year. Announcement • Mar 31
China Overseas Land & Investment Limited, Annual General Meeting, Jun 24, 2026 China Overseas Land & Investment Limited, Annual General Meeting, Jun 24, 2026, at 11:00 China Standard Time. Announcement • Mar 10
China Overseas Land & Investment Limited to Report Fiscal Year 2025 Results on Mar 31, 2026 China Overseas Land & Investment Limited announced that they will report fiscal year 2025 results on Mar 31, 2026 Announcement • Oct 02
China Overseas Land & Investment Limited to Report Q3, 2025 Results on Oct 24, 2025 China Overseas Land & Investment Limited announced that they will report Q3, 2025 results on Oct 24, 2025 Upcoming Dividend • Sep 12
Upcoming dividend of HK$0.25 per share Eligible shareholders must have bought the stock before 16 September 2025. Payment date: 03 October 2025. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Hong Kong dividend payers (6.5%). In line with average of industry peers (4.4%). Declared Dividend • Aug 29
First half dividend of HK$0.25 announced Shareholders will receive a dividend of HK$0.25. Ex-date: 16th September 2025 Payment date: 3rd October 2025 Dividend yield will be 4.0%, which is lower than the industry average of 6.6%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased by an average of 2.2% 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 • Aug 28
First half 2025 earnings released: EPS: CN¥0.79 (vs CN¥0.94 in 1H 2024) First half 2025 results: EPS: CN¥0.79 (down from CN¥0.94 in 1H 2024). Revenue: CN¥83.2b (down 4.3% from 1H 2024). Net income: CN¥8.60b (down 17% from 1H 2024). Profit margin: 10% (down from 12% in 1H 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Aug 12
China Overseas Land & Investment Limited to Report Q2, 2025 Results on Aug 27, 2025 China Overseas Land & Investment Limited announced that they will report Q2, 2025 results on Aug 27, 2025 Upcoming Dividend • Jun 20
Upcoming dividend of HK$0.30 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 17 July 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of Hong Kong dividend payers (7.5%). Lower than average of industry peers (5.1%). Buy Or Sell Opportunity • Apr 23
Now 20% undervalued Over the last 90 days, the stock has risen 18% to HK$14.36. The fair value is estimated to be HK$17.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.6% over the last 3 years. Earnings per share has declined by 26%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 8.7% per annum over the same time period. Announcement • Apr 09
China Overseas Land & Investment Limited to Report Q1, 2025 Results on Apr 25, 2025 China Overseas Land & Investment Limited announced that they will report Q1, 2025 results on Apr 25, 2025 Major Estimate Revision • Apr 07
Consensus EPS estimates fall by 29% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥199.7b to CN¥190.8b. EPS estimate also fell from CN¥2.06 per share to CN¥1.46 per share. Net income forecast to grow 2.1% next year vs 45% growth forecast for Real Estate industry in Hong Kong. Consensus price target broadly unchanged at HK$16.37. Share price fell 2.3% to HK$13.58 over the past week. Declared Dividend • Apr 02
Final dividend of HK$0.30 announced Shareholders will receive a dividend of HK$0.30. Ex-date: 27th June 2025 Payment date: 17th July 2025 Dividend yield will be 4.5%, which is lower than the industry average of 6.6%. Sustainability & Growth The dividend has increased by an average of 4.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 01
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥1.43 (down from CN¥2.34 in FY 2023). Revenue: CN¥185.2b (down 8.6% from FY 2023). Net income: CN¥15.6b (down 39% from FY 2023). Profit margin: 8.4% (down from 13% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 29%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 26% 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. New Risk • Apr 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.4% Last year net profit margin: 13% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. 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. Profit margins are more than 30% lower than last year (8.4% net profit margin). Announcement • Mar 10
China Overseas Land & Investment Limited to Report Fiscal Year 2024 Results on Mar 31, 2025 China Overseas Land & Investment Limited announced that they will report fiscal year 2024 results on Mar 31, 2025 Announcement • Jan 21
China Overseas Land & Investment Limited Announces Change of Non-Executive Director, with Effect from 22 January 2025 The board of directors of China Overseas Land & Investment Limited announced that Mr. Zhao Wenhai (‘Mr. Zhao’) resigned as Non-executive Director of the Company with effect from 22 January 2025 due to other work arrangements. Mr. Zhao confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company. The Board announce that Mr. Ma Yao (‘Mr. Ma’) has been appointed as Non- executive Director of the Company with effect from 22 January 2025. Mr. Ma, aged 52, currently serves as deputy general manager of Department of Strategy and Investment Management of CITIC Group Corporation. Mr. Ma obtained a bachelor's degree in automatic control from Xi'an Jiaotong University, a master's degree in monetary banking and a doctor's degree in international finance from the Graduate School of the People's Bank of China. Mr. Ma joined CITIC Securities Company Limited (‘CITIC Securities’) (listed in Hong Kong) in 1998 and previously served as the deputy general manager of the Risk Control Department, deputy general manager of the Bond Distribution and Trading Department, deputy general manager of the Trading Department, chief executive of the Capital Market Department, head of the Financial Industry Group, member of the Investment Banking Management Committee, head of the Investment Banking Management Committee, member of the Executive Committee of CITIC Securities, and director of CLSA Limited and CITIC Securities (Hong Kong) Limited. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$14.86, 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. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$8.36 per share. Announcement • Oct 02
China Overseas Land & Investment Limited to Report Q3, 2024 Results on Oct 25, 2024 China Overseas Land & Investment Limited announced that they will report Q3, 2024 results on Oct 25, 2024 Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to HK$14.32, 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 loss to shareholders of 5.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$8.43 per share. Price Target Changed • Aug 30
Price target decreased by 7.0% to HK$16.39 Down from HK$17.63, the current price target is an average from 18 analysts. New target price is 32% above last closing price of HK$12.38. Stock is down 25% over the past year. The company is forecast to post earnings per share of CN¥1.92 for next year compared to CN¥2.34 last year. Declared Dividend • Aug 30
First half dividend of HK$0.30 announced Shareholders will receive a dividend of HK$0.30. Ex-date: 16th September 2024 Payment date: 4th October 2024 Dividend yield will be 6.1%, which is lower than the industry average of 6.6%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 6.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 29
First half 2024 earnings released: EPS: CN¥0.94 (vs CN¥1.23 in 1H 2023) First half 2024 results: EPS: CN¥0.94 (down from CN¥1.23 in 1H 2023). Revenue: CN¥86.9b (down 2.5% from 1H 2023). Net income: CN¥10.3b (down 24% from 1H 2023). Profit margin: 12% (down from 15% in 1H 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jul 10
Now 21% undervalued Over the last 90 days, the stock has risen 7.8% to HK$13.02. The fair value is estimated to be HK$16.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.5% over the last 3 years. Earnings per share has declined by 28%. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings are also forecast to grow by 4.3% per annum over the same time period. Announcement • Jun 21
China Overseas Land & Investment Limited Approves Declaration Final Dividend for the Year Ended 31 December 2023 China Overseas Land & Investment Limited at its AGM held on June 21, 2024, approved the declaration of a final dividend for the year ended 31 December 2023 of 45 HK cents per Share. Upcoming Dividend • Jun 18
Upcoming dividend of HK$0.45 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 12 July 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 5.7%. Lower than top quartile of Hong Kong dividend payers (7.8%). In line with average of industry peers (6.0%). Announcement • Apr 28
China Overseas Land & Investment Limited to Report Q2, 2024 Results on Aug 28, 2024 China Overseas Land & Investment Limited announced that they will report Q2, 2024 results on Aug 28, 2024 Reported Earnings • Apr 27
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: CN¥2.34 (up from CN¥2.13 in FY 2022). Revenue: CN¥202.5b (up 12% from FY 2022). Net income: CN¥25.6b (up 10% from FY 2022). Profit margin: 13% (in line with FY 2022). Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) also surpassed analyst estimates by 7.2%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$13.96, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$27.82 per share. Announcement • Apr 11
China Overseas Land & Investment Limited to Report Q1, 2024 Results on Apr 24, 2024 China Overseas Land & Investment Limited announced that they will report Q1, 2024 results on Apr 24, 2024 Price Target Changed • Apr 01
Price target decreased by 8.5% to HK$17.86 Down from HK$19.51, the current price target is an average from 20 analysts. New target price is 59% above last closing price of HK$11.26. Stock is down 44% over the past year. The company is forecast to post earnings per share of CN¥2.35 for next year compared to CN¥2.34 last year. Announcement • Mar 29
China Overseas Land & Investment Limited, Annual General Meeting, Jun 21, 2024 China Overseas Land & Investment Limited, Annual General Meeting, Jun 21, 2024, at 11:00 China Standard Time. Agenda: To consider final dividend of HK45 cents per share for the year ended 31 December 2023. Reported Earnings • Mar 29
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: CN¥2.34 (up from CN¥2.13 in FY 2022). Revenue: CN¥202.5b (up 12% from FY 2022). Net income: CN¥25.6b (up 10% from FY 2022). Profit margin: 13% (in line with FY 2022). Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates by 7.2%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Mar 28
China Overseas Land & Investment Limited Proposes Final Cash Dividend for the Year Ended December 31, 2023, Payable on 12 July 2024 China Overseas Land & Investment Limited proposed final cash dividend of HKD 0.45 per share for the year ended December 31, 2023. Date of shareholders' approval is 21 June 2024. Record date is 27 June 2024. Payment date is 12 July 2024. Date of shareholders' approval is 21 June 2024. Announcement • Mar 13
China Overseas Land & Investment Limited to Report Fiscal Year 2023 Results on Mar 28, 2024 China Overseas Land & Investment Limited announced that they will report fiscal year 2023 results on Mar 28, 2024 Major Estimate Revision • Oct 26
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from CN¥191.9b to CN¥194.8b. EPS estimate increased from CN¥1.97 to CN¥2.24 per share. Net income forecast to grow 31% next year vs 27% growth forecast for Real Estate industry in Hong Kong. Consensus price target broadly unchanged at HK$22.50. Share price was steady at HK$14.92 over the past week. Announcement • Sep 30
China Overseas Land & Investment Limited to Report Q3, 2023 Results on Oct 25, 2023 China Overseas Land & Investment Limited announced that they will report Q3, 2023 results on Oct 25, 2023 Major Estimate Revision • Sep 20
Consensus EPS estimates fall by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥201.8b to CN¥191.7b. EPS estimate also fell from CN¥2.37 per share to CN¥1.97 per share. Net income forecast to grow 24% next year vs 28% growth forecast for Real Estate industry in Hong Kong. Consensus price target broadly unchanged at HK$22.51. Share price fell 3.8% to HK$16.00 over the past week. Upcoming Dividend • Sep 11
Upcoming dividend of HK$0.35 per share at 4.0% yield Eligible shareholders must have bought the stock before 18 September 2023. Payment date: 05 October 2023. Payout ratio is a comfortable 38% but the company is not cash flow positive. Trailing yield: 4.0%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (5.3%). Price Target Changed • Sep 01
Price target decreased by 7.0% to HK$23.02 Down from HK$24.76, the current price target is an average from 23 analysts. New target price is 39% above last closing price of HK$16.54. Stock is down 21% over the past year. The company is forecast to post earnings per share of CN¥2.36 for next year compared to CN¥2.13 last year. Announcement • Aug 29
China Overseas Land & Investment Limited Announces Interim Dividend for the Six Months Ended 30 June 2023, Payable on 05 October 2023 China Overseas Land & Investment Limited announced interim dividend of HKD 0.35 per share for the six months ended 30 June 2023. Ex-dividend date is 18 September 2023. Record date is 20 September 2023. Payment date is 05 October 2023. Reported Earnings • Aug 29
First half 2023 earnings released: EPS: CN¥1.23 (vs CN¥1.53 in 1H 2022) First half 2023 results: EPS: CN¥1.23 (down from CN¥1.53 in 1H 2022). Revenue: CN¥89.2b (down 14% from 1H 2022). Net income: CN¥13.5b (down 19% from 1H 2022). Profit margin: 15% (down from 16% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Aug 03
China Overseas Land & Investment Limited to Report Q2, 2023 Results on Aug 28, 2023 China Overseas Land & Investment Limited announced that they will report Q2, 2023 results on Aug 28, 2023 Announcement • Jun 29
China Overseas Land & Investment Limited Approves Final Dividend for the Year Ended December 31, 2022 China Overseas Land & Investment Limited at its Annual General Meeting held on 28 June 2023 approved declaration of a final dividend for the year ended 31 December 2022 of HK40 cents per Share. Upcoming Dividend • Jun 23
Upcoming dividend of HK$0.40 per share at 4.6% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 19 July 2023. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 4.6%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (5.3%). Major Estimate Revision • Apr 07
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥230.0b to CN¥199.9b. EPS estimate fell from CN¥3.00 to CN¥2.45 per share. Net income forecast to grow 15% next year vs 21% growth forecast for Real Estate industry in Hong Kong. Consensus price target down from HK$26.80 to HK$25.94. Share price rose 5.5% to HK$20.00 over the past week. Reported Earnings • Apr 01
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥2.13 (down from CN¥3.67 in FY 2021). Revenue: CN¥180.3b (down 26% from FY 2021). Net income: CN¥23.3b (down 42% from FY 2021). Profit margin: 13% (down from 17% in FY 2021). Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 27%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 9% per year. Buying Opportunity • Dec 12
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 7.9%. The fair value is estimated to be HK$27.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings is also forecast to grow by 6.4% per annum over the same time period. Board Change • Nov 16
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. 6 non-independent directors. Independent Non-Executive Director Ceajer Chan 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. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 15% share price gain to HK$18.40, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 4x in the Real Estate industry in Hong Kong. Total loss to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$14.64 per share. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorated over the past week After last week's 17% share price decline to HK$16.72, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 4x in the Real Estate industry in Hong Kong. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$26.78 per share. Upcoming Dividend • Sep 09
Upcoming dividend of HK$0.40 per share Eligible shareholders must have bought the stock before 16 September 2022. Payment date: 05 October 2022. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Hong Kong dividend payers (8.2%). Lower than average of industry peers (5.7%). Reported Earnings • Aug 25
First half 2022 earnings released: EPS: CN¥1.53 (vs CN¥1.90 in 1H 2021) First half 2022 results: EPS: CN¥1.53 (down from CN¥1.90 in 1H 2021). Revenue: CN¥103.8b (down 3.8% from 1H 2021). Net income: CN¥16.7b (down 19% from 1H 2021). Profit margin: 16% (down from 19% in 1H 2021). Over the next year, revenue is forecast to grow 16%, compared to a 13% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 6% per year. 
