Announcement • May 01
China Merchants Commercial Real Estate Investment Trust, Annual General Meeting, May 29, 2026 China Merchants Commercial Real Estate Investment Trust, Annual General Meeting, May 29, 2026, at 10:30 China Standard Time. Location: cm+ hotels and serviced apartments, 3/f, south tower, 16 connaught road west, sheung wan, Hong Kong Declared Dividend • Mar 23
Final dividend of HK$0.041 announced Shareholders will receive a dividend of HK$0.041. Ex-date: 2nd April 2026 Payment date: 29th May 2026 Dividend yield will be 8.2%, which is higher than the industry average of 5.4%. Reported Earnings • Mar 18
Full year 2025 earnings released: CN¥0.09 loss per share (vs CN¥0.16 loss in FY 2024) Full year 2025 results: CN¥0.09 loss per share (improved from CN¥0.16 loss in FY 2024). Revenue: CN¥432.2m (down 18% from FY 2024). Net loss: CN¥98.6m (loss narrowed 47% from FY 2024). Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Feb 27
China Merchants Commercial Real Estate Investment Trust to Report Fiscal Year 2025 Results on Mar 16, 2026 China Merchants Commercial Real Estate Investment Trust announced that they will report fiscal year 2025 results at 12:30 PM, China Standard Time on Mar 16, 2026 Declared Dividend • Aug 25
First half dividend of HK$0.056 announced Shareholders will receive a dividend of HK$0.056. Ex-date: 5th September 2025 Payment date: 30th October 2025 Dividend yield will be 7.9%, which is higher than the industry average of 5.4%. Reported Earnings • Aug 24
First half 2025 earnings released: CN¥0.043 loss per share (vs CN¥0.12 loss in 1H 2024) First half 2025 results: CN¥0.043 loss per share (improved from CN¥0.12 loss in 1H 2024). Revenue: CN¥225.0m (down 16% from 1H 2024). Net loss: CN¥48.3m (loss narrowed 64% from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year and the company’s share price has also fallen by 19% per year. Announcement • Aug 02
China Merchants Commercial Real Estate Investment Trust to Report First Half, 2025 Results on Aug 22, 2025 China Merchants Commercial Real Estate Investment Trust announced that they will report first half, 2025 results on Aug 22, 2025 Announcement • Apr 29
China Merchants Commercial Real Estate Investment Trust, Annual General Meeting, May 30, 2025 China Merchants Commercial Real Estate Investment Trust, Annual General Meeting, May 30, 2025, at 10:30 China Standard Time. Location: cm+ hotels and serviced apartments, 3/f, south tower, 16 connaught roadwest, sheungwan, Hong Kong Declared Dividend • Mar 24
Final dividend of HK$0.052 announced Shareholders will receive a dividend of HK$0.052. Ex-date: 8th April 2025 Payment date: 30th May 2025 Dividend yield will be 9.0%, which is higher than the industry average of 5.4%. Reported Earnings • Mar 18
Full year 2024 earnings released: CN¥0.16 loss per share (vs CN¥0.15 loss in FY 2023) Full year 2024 results: CN¥0.16 loss per share (further deteriorated from CN¥0.15 loss in FY 2023). Revenue: CN¥529.4m (up 8.2% from FY 2023). Net loss: CN¥184.8m (loss widened 7.2% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Announcement • Mar 18
China Merchants Commercial Real Estate Investment Trust Declares Ordinary Final Distribution for the Period from 1 July 2024 to 31 December 2024, Payable on 30 May 2025 China Merchants Commercial Real Estate Investment Trust declared ordinary Final Distribution of HKD 0.052 per unit for the period from 1 July 2024 to 31 December 2024. Ex-dividend date: 08 April 2025; Record date: 11 April 2025; Payment date: 30 May 2025. Announcement • Feb 28
China Merchants Commercial Real Estate Investment Trust to Report Fiscal Year 2024 Results on Mar 17, 2025 China Merchants Commercial Real Estate Investment Trust announced that they will report fiscal year 2024 results on Mar 17, 2025 Reported Earnings • Oct 02
First half 2024 earnings released: CN¥0.12 loss per share (vs CN¥0.051 loss in 1H 2023) First half 2024 results: CN¥0.12 loss per share (further deteriorated from CN¥0.051 loss in 1H 2023). Revenue: CN¥266.3m (up 12% from 1H 2023). Net loss: CN¥135.4m (loss widened 136% from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Declared Dividend • Sep 08
First half dividend of HK$0.06 announced Shareholders will receive a dividend of HK$0.06. Ex-date: 9th September 2024 Payment date: 31st October 2024 Dividend yield will be 8.7%, which is higher than the industry average of 5.4%. Reported Earnings • Aug 19
First half 2024 earnings released: CN¥0.12 loss per share (vs CN¥0.051 loss in 1H 2023) First half 2024 results: CN¥0.12 loss per share (further deteriorated from CN¥0.051 loss in 1H 2023). Revenue: CN¥266.3m (up 12% from 1H 2023). Net loss: CN¥135.4m (loss widened 136% from 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Declared Dividend • Aug 16
First half dividend of HK$0.06 announced Shareholders will receive a dividend of HK$0.06. Ex-date: 6th September 2024 Payment date: 31st October 2024 Dividend yield will be 8.8%, which is higher than the industry average of 5.4%. Announcement • Aug 06
China Merchants Commercial Real Estate Investment Trust Announces Board and Committee Changes China Merchants Land Asset Management Co., Limited, as manager of China Merchants Commercial Real Estate Investment Trust, announced that Mr. HUANG Junlong has tendered his resignation as the chairman of the Board and a non-executive director of the Manager because of his age, and will cease to serve as the chairman of the Nomination and Remuneration Committee, with effect from 6 August 2024. Mr. HUANG has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that need to be brought to the attention to the unitholders of CMC REIT. The Board announces that Mr. YU Zhiliang ("Mr. YU") has been appointed as the chairman of the Board, a non-executive director of the Manager and the chairman of Nomination and Remuneration Committee with effect from 6 August 2024. Mr. YU re-joins the Board having previously acted as a non-executive director of the Manager from 11 July 2019 to 25 May 2023. Mr. YU, aged 45, has been the chief financial officer and secretary to the board of directors of China Merchants Shekou Industrial Zone Holdings Co. Ltd. since 8 July 2024. He is a non-executive director and a member of remuneration committee of China Merchants Land Limited, the shares of which are listed on the The Stock Exchange of Hong Kong Limited (stock code: 00978.HK). Mr. YU is also a director of Ming Yuan Property (Hua Bei) Corporation. He was previously the deputy head of the finance department (property rights department) of China Merchants Group Limited. He was a director of China Merchants Property Operation & Service Co. Ltd., the shares of which are listed on the Shenzhen Stock Exchange (stock code: 001914.SZ) from 24 November 2022 to 5 May 2023. He served as a director of CML from June 2012 to May 2023. He was the chief financial officer of China Merchants Property (Xiamen) Co. Ltd. and Fujian Zhong Lian Sheng Estate Development Ltd. from 2010 to 2012. Mr. YU obtained a Bachelor of Administration (major in accounting) from Xiamen University in 2001 and a Master of Business Administration (Finance) from The Chinese University of Hong Kong in December 2009. Mr. Yu is an accountant in the People's Republic of China. Composition of the Board and Board Committees: Immediately following the abovementioned changes, and with effect from 6 August 2024, the compositions of the Board and each of the four existing Board committees of the Manager are as follows: Board Non-executive Directors: Mr. YU Zhiliang (Chairman), Mr. LI Yao. Executive Directors: Mr. GUO Jin, Mr. ZHONG Ning . Independent Non-executive Directors: Mr. LIN Chen, Ms. WONG Yuan Chin, Tzena, Mr. WONG Chun Sek, Edmund Audit Committee: Mr. WONG Chun Sek, Edmund (Chairman) Mr. LI Yao Mr. LIN Chen. Disclosures Committee Mr. ZHONG Ning (Chairman) Mr. GUO Jin Ms. WONG Yuan Chin, Tzena . Nomination and Remuneration Committee: Mr. YU Zhiliang (Chairman), Mr. LIN Chen, Ms. WONG Yuan Chin, Tzena . Investment Committee: Mr. LI Yao (Chairman), Mr. GUO Jin, Mr. WONG Chun Sek, Edmund. Announcement • Jul 30
China Merchants Commercial Real Estate Investment Trust to Report Q2, 2024 Results on Aug 14, 2024 China Merchants Commercial Real Estate Investment Trust announced that they will report Q2, 2024 results on Aug 14, 2024 Upcoming Dividend • Apr 01
Upcoming dividend of HK$0.045 per share Eligible shareholders must have bought the stock before 08 April 2024. Payment date: 30 May 2024. Trailing yield: 7.3%. Lower than top quartile of Hong Kong dividend payers (8.4%). Higher than average of industry peers (5.0%). Declared Dividend • Mar 16
Final dividend of HK$0.045 announced Shareholders will receive a dividend of HK$0.045. Ex-date: 8th April 2024 Payment date: 30th May 2024 Dividend yield will be 7.5%, which is higher than the industry average of 5.4%. Reported Earnings • Mar 15
Full year 2023 earnings released: CN¥0.15 loss per share (vs CN¥0.19 loss in FY 2022) Full year 2023 results: CN¥0.15 loss per share (improved from CN¥0.19 loss in FY 2022). Revenue: CN¥489.2m (up 13% from FY 2022). Net loss: CN¥172.3m (loss narrowed 18% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Announcement • Mar 15
China Merchants Commercial Real Estate Investment Trust Announces Final Distribution for the Period from 1 July 2023 to 31 December 2023, Payable on 30 May 2024 China Merchants Commercial Real Estate Investment Trust declared Final Distribution of HKD 0.045 per unit for the period from 1 July 2023 to 31 December 2023. Ex-dividend date: 08 April 2024; Record date: 12 April 2024; Payment date: 30 May 2024. Announcement • Mar 02
China Merchants Commercial Real Estate Investment Trust to Report Fiscal Year 2023 Results on Mar 14, 2024 China Merchants Commercial Real Estate Investment Trust announced that they will report fiscal year 2023 results on Mar 14, 2024 Upcoming Dividend • Sep 06
Upcoming dividend of HK$0.048 per share at 7.3% yield Eligible shareholders must have bought the stock before 13 September 2023. Payment date: 26 October 2023. Trailing yield: 7.3%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (5.1%). Reported Earnings • Sep 01
First half 2023 earnings released: CN¥0.051 loss per share (vs CN¥0.028 loss in 1H 2022) First half 2023 results: CN¥0.051 loss per share (further deteriorated from CN¥0.028 loss in 1H 2022). Revenue: CN¥238.0m (up 36% from 1H 2022). Net loss: CN¥57.3m (loss widened 79% from 1H 2022). Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, while revenues in the REITs industry in Asia are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 47 percentage points per year, which is a significant difference in performance. Buying Opportunity • Aug 31
Now 29% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be HK$1.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Announcement • Aug 15
China Merchants Commercial Real Estate Investment Trust to Report First Half, 2023 Results on Aug 30, 2023 China Merchants Commercial Real Estate Investment Trust announced that they will report first half, 2023 results on Aug 30, 2023 Announcement • Jul 29
China Merchants Commercial Real Estate Investment Trust Appoints WONG Chun Sek, Edmund as Independent Non-Executive Director, the Chairman of the Audit Committee and A Member of the Investment Committee China Merchants Commercial Real Estate Investment Trust announced that Mr. WONG Chun Sek, Edmund has been appointed an independent non-executive Director ("Independent Non-executive Director"), the Chairman of the audit committee (the "Audit Committee") and a member of the investment committee (the "Investment Committee") of the Manager with effect from 28 July 2023. The biography of Mr. WONG containing information required under Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") (as if such rule were applicable to CMC REIT) is set out below: Mr. WONG, aged 38, has more than 15 years of experience in accounting, taxation and auditing. Mr. WONG is a member of the Hong Kong Institute of Certified Public Accountants, the Institute of Chartered Accountants in England and Wales, Chartered Accountants in Australia and New Zealand, the Association of Chartered Certified Accountants of the United Kingdom, The Society of Chinese Accountants and Auditors, The Taxation Institute of Hong Kong, The Hong Kong Independent Non-Executive Director Association, The Hong Kong Chartered Governance Institute and The Chartered Governance Institute. Announcement • May 27
China Merchants Commercial Real Estate Investment Trust Announces Management Changes The board of directors of China Merchants Land Asset Management Co., Limited announced that: Mr. YU Zhiliang ("Mr. YU") has tendered his resignation as a non-executive Director due to change in work arrangements, and will cease to serve as the Chairman of the Investment Committee of the Manager (the "Investment Committee"), with effect from 25 May 2023; and Ms. LIU Ning ("Ms. LIU") has tendered her resignation as a non-executive Directorbecause of her age, and will cease to serve as the Chairman of the Disclosures Committee of the Manager (the "Disclosures Committee") and a member of the Audit Committee of the Manager (the "Audit Committee"), with effect from 25 May 2023. The Board announces that, Mr. LI Yao ("Mr. LI") has been appointed a non-executive Director, the Chairman of the Investment Committee and a member of the Audit Committee with effect from 25 May 2023. Mr. LI does not currently hold any position with CMC REIT or its subsidiaries. Mr. LI Yao, aged 36, is currently a non-executive director of China Merchants Land Limited (a company listed on the main board of The Stock Exchange of Hong Kong Limited with stock code 00978) and the Deputy General Manager of the Overseas Development Division of China Merchants Shekou Industrial Zone Holdings Co. Ltd. He joined China Merchants Holdings (International) Company Limited in 2012 and has since served as the Engineer and Assistant Department Manager of the Engineering Department and Administration Department of China Merchants Colombo International Container Terminals Ltd., the Manager of the Administration Department of China Merchants Holdings (International) Company Limited, the Manager of the Overseas Business Department of China Merchants Holdings (International) Company Limited, the Permanent Representative of China Merchants Group Representative Office in Djibouti, the Manager of Overseas Department and International Cooperation Department of China Merchants Group Headquarters, Senior Manager of Executive Office of China Merchants Group. Mr. LI graduated from Tianjin University with a bachelor's degree in engineering management and English in July 2009 and later graduated from Tianjin University with a master's degree in management in engineering management in January 2012. The Board also announces that Mr. ZHONG Ning ("Mr. ZHONG") has been appointed an executive Director and the Chairman of the Disclosures Committee with effect from 25 May 2023. Mr. ZHONG Ning, aged 40, is currently the Chief Operating Officer, Head of Information Technology, Deputy Investment and Asset Management Officer and one of the Responsible Officers of the Manager. He is employed by China Merchants Land Enterprise Management Consulting (Shenzhen) Co., Ltd*), a wholly-owned subsidiary of the Manager (the "Onshore Manager Subsidiary"), and serves as a director of certain subsidiaries of CMC REIT. Mr. ZHONG was previously an investment director of China Merchants Land Limited from February 2017 until October 2019. Mr. ZHONG obtained a Bachelor of Management from Shenzhen University in June 2006 and a Master of Business Administration from the Hong Kong University of Science and Technology in November 2017. Mr. ZHONG has not entered into any service agreement with the Manager in respect of his services as an executive Director nor was he appointed for a specific term. Any remuneration payable to Mr. ZHONG will be paid and borne by the Manager (through the Onshore Manager Subsidiary) out of its own resources. Announcement • May 06
China Merchants Commercial Real Estate Investment Trust Announces Passing Away of Mr. Lin Hua an Independent Non-Executive Director, Chairman of the Audit Committee and A Member of the Investment Committee of the Board The board of directors of China Merchants Land Asset Management Co. is deeply saddened to announced that Mr. LIN Hua an Independent Non-executive Director, the Chairman of the Audit Committee and a member of the Investment Committee of the Board, passed away on 2 May 2023. Buying Opportunity • Apr 06
Now 22% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be HK$2.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Mar 30
Upcoming dividend of HK$0.13 per share at 6.2% yield Eligible shareholders must have bought the stock before 06 April 2023. Payment date: 30 May 2023. Trailing yield: 6.2%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (5.2%). Reported Earnings • Mar 24
Full year 2022 earnings released Full year 2022 results: Revenue: CN¥431.7m (flat on FY 2021). Net loss: CN¥209.5m (down 178% from profit in FY 2021). Net asset value (NAV) per share: HK$3.73 (down 8.7% from FY 2021). The current share price is 42% lower than NAV per share. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 4.1% decline forecast for the REITs industry in Asia. Buying Opportunity • Feb 10
Now 20% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be HK$2.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. 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. 4 non-independent directors. Independent Non-Executive Director Tzena Wong was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 03
First half 2022 earnings released: CN¥0.028 loss per share (vs CN¥0.12 profit in 1H 2021) First half 2022 results: CN¥0.028 loss per share (down from CN¥0.12 profit in 1H 2021). Revenue: CN¥175.0m (down 17% from 1H 2021). Net loss: CN¥32.1m (down 124% from profit in 1H 2021). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the REITs industry in Hong Kong. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$1.78, the stock trades at a trailing P/E ratio of 17.8x. Average forward P/E is 16x in the REITs industry in Hong Kong. Total loss to shareholders of 28% over the past year. Upcoming Dividend • Sep 07
Upcoming dividend of HK$0.13 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 12 October 2022. Trailing yield: 9.6%. Within top quartile of Hong Kong dividend payers (8.2%). Higher than average of industry peers (6.0%). Reported Earnings • Sep 01
First half 2022 earnings released: CN¥0.03 loss per share (vs CN¥0.12 profit in 1H 2021) First half 2022 results: CN¥0.03 loss per share (down from CN¥0.12 profit in 1H 2021). Revenue: CN¥175.0m (down 17% from 1H 2021). Net loss: CN¥32.1m (down 124% from profit in 1H 2021). Over the next year, revenue is forecast to grow 8.2%, compared to a 3.5% growth forecast for the REITs industry in Hong Kong. Announcement • Aug 31
China Merchants Commercial Real Estate Investment Trust Declares Ordinary Interim (Semi-Annual) Dividend for the Period from 1 January 2022 to 30 June 2022, Payable on October 12, 2022 China Merchants Commercial Real Estate Investment Trust declared ordinary interim (Semi-annual) dividend of HKD 0.1307 per unit for the period from 1 January 2022 to 30 June 2022, payable on October 12, 2022 with Ex-dividend date of 14 September 2022 and Record date of 20 September 2022. Announcement • Aug 17
China Merchants Commercial Real Estate Investment Trust to Report Q2, 2022 Results on Aug 30, 2022 China Merchants Commercial Real Estate Investment Trust announced that they will report Q2, 2022 results on Aug 30, 2022 Price Target Changed • May 23
Price target decreased to HK$3.42 Down from HK$3.83, the current price target is provided by 1 analyst. New target price is 35% above last closing price of HK$2.54. Stock is down 6.6% over the past year. The company posted earnings per share of CN¥0.24 last year. Reported Earnings • Apr 28
Full year 2021 earnings released: EPS: CN¥0.24 (vs CN¥0.25 in FY 2020) Full year 2021 results: EPS: CN¥0.24 (down from CN¥0.25 in FY 2020). Revenue: CN¥432.8m (up 17% from FY 2020). Net income: CN¥267.7m (down 6.1% from FY 2020). Profit margin: 62% (down from 77% in FY 2020). Net asset value (NAV) per share: HK$4.25 (up 2.3% from FY 2020). The current share price is 39% lower than NAV per share. Over the next year, revenue is forecast to grow 20%, compared to a 4.6% growth forecast for the reits industry in Hong Kong. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Non-Executive Director Zhiliang Yu is the most experienced director on the board, commencing their role in 2019. Independent Non-Executive Director Tzena Huang was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Upcoming Dividend • Apr 01
Upcoming dividend of HK$0.15 per share Eligible shareholders must have bought the stock before 08 April 2022. Payment date: 27 May 2022. Trailing yield: 8.9%. Within top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (5.5%). Reported Earnings • Sep 23
First half 2021 earnings released: EPS CN¥0.12 (vs CN¥0.04 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥211.8m (up 19% from 1H 2020). Net income: CN¥132.8m (up 191% from 1H 2020). Profit margin: 63% (up from 26% in 1H 2020). Upcoming Dividend • Aug 27
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 03 September 2021. Payment date: 29 September 2021. Trailing yield: 5.8%. Lower than top quartile of Hong Kong dividend payers (6.6%). Higher than average of industry peers (4.8%). Reported Earnings • Aug 22
First half 2021 earnings released: EPS CN¥0.12 (vs CN¥0.04 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥211.8m (up 19% from 1H 2020). Net income: CN¥132.8m (up 191% from 1H 2020). Profit margin: 63% (up from 26% in 1H 2020). Executive Departure • Aug 03
Independent Non-Executive Director Sze Wan Lau has left the company On the 28th of July, Sze Wan Lau's tenure as Independent Non-Executive Director ended after 1.6 years in the role. We don't have any record of a personal shareholding under Sze Wan's name. Sze Wan is the only executive to leave the company over the last 12 months. Reported Earnings • Apr 25
Full year 2020 earnings released: EPS CN¥0.25 (vs CN¥0.15 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥370.1m (up 115% from FY 2019). Net income: CN¥285.1m (up 67% from FY 2019). Profit margin: 77% (down from 99% in FY 2019). The decrease in margin was driven by higher expenses. Net asset value (NAV) per share: HK$4.15 (flat on FY 2019). The current share price is 36% lower than NAV per share. Upcoming Dividend • Mar 25
Upcoming dividend of HK$0.16 per share Eligible shareholders must have bought the stock before 01 April 2021. Payment date: 28 May 2021. Trailing yield: 6.1%. Lower than top quartile of Hong Kong dividend payers (6.3%). Higher than average of industry peers (4.8%). Announcement • Mar 17
China Merchants Commercial Real Estate Investment Trust, Annual General Meeting, May 25, 2021 China Merchants Commercial Real Estate Investment Trust, Annual General Meeting, May 25, 2021. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS CN¥0.25 (vs CN¥0.15 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: CN¥370.1m (up 115% from FY 2019). Net income: CN¥285.1m (up 67% from FY 2019). Profit margin: 77% (down from 99% in FY 2019). The decrease in margin was driven by higher expenses. Announcement • Mar 05
China Merchants Commercial Real Estate Investment Trust to Report Fiscal Year 2020 Results on Mar 16, 2021 China Merchants Commercial Real Estate Investment Trust announced that they will report fiscal year 2020 results on Mar 16, 2021 Is New 90 Day High Low • Feb 25
New 90-day high: HK$2.56 The company is up 6.0% from its price of HK$2.42 on 27 November 2020. The Hong Kong market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the REITs industry, which is up 5.0% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: HK$2.49 The company is up 3.0% from its price of HK$2.41 on 20 October 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: HK$2.45 The company is up 1.0% from its price of HK$2.43 on 11 September 2020. The Hong Kong market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is up 9.0% over the same period. Is New 90 Day High Low • Sep 25
New 90-day low: HK$2.22 The company is down 21% from its price of HK$2.82 on 26 June 2020. The Hong Kong market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the REITs industry, which is down 4.0% over the same period. Announcement • Aug 06
China Merchants Commercial Real Estate Investment Trust to Report First Half, 2020 Results on Aug 17, 2020 China Merchants Commercial Real Estate Investment Trust announced that they will report first half, 2020 results on Aug 17, 2020 
