Duyuru • Mar 27
Longfor Group Holdings Limited, Annual General Meeting, Jun 18, 2026 Longfor Group Holdings Limited, Annual General Meeting, Jun 18, 2026. Duyuru • Aug 29
Longfor Group Holdings Limited Announces Interim (Semi-Annual) Cash Dividend for the Six Months Ending June 30, 2025, Payable on April 30, 2026 Longfor Group Holdings Limited announced an interim (semi-annual) Cash dividend of RMB 0.07 per share for the six months ended June 30, 2025. Ex-dividend date 16 March 2026. Record date 20 March 2026. Payment date 30 April 2026. Duyuru • Aug 19
Longfor Group Holdings Limited to Report First Half, 2025 Results on Aug 29, 2025 Longfor Group Holdings Limited announced that they will report first half, 2025 results on Aug 29, 2025 Duyuru • Jun 18
Longfor Group Holdings Limited Declares Final Dividend for the Year Ended 31 December 2024, Payable on September 26, 2025 Longfor Group Holdings Limited at its annual general meeting held on 18 June 2025, declared a final dividend of RMB 0.10 per share for the year ended 31 December 2024. Ex-dividend date 14 August 2025, Record date 20 August 2025 and Payment date 26 September 2025. Duyuru • Mar 07
Longfor Group Holdings Limited to Report Fiscal Year 2024 Results on Mar 31, 2025 Longfor Group Holdings Limited announced that they will report fiscal year 2024 results on Mar 31, 2025 Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$14.56, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Real Estate industry in Hong Kong. Total loss to shareholders of 55% over the past three years. Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to HK$13.38, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Real Estate industry in Hong Kong. Total loss to shareholders of 55% over the past three years. Recent Insider Transactions • Oct 04
CEO & Executive Chairperson recently sold HK$20m worth of stock On the 2nd of October, Xuping Chen sold around 1m shares on-market at roughly HK$19.66 per share. This transaction amounted to 7.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Xuping has been a net seller over the last 12 months, reducing personal holdings by HK$18m. New Risk • Sep 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (10% average weekly change). Profit margins are more than 30% lower than last year (6.4% net profit margin). Shareholders have been diluted in the past year (4.4% increase in shares outstanding). Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to HK$11.78, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Real Estate industry in Hong Kong. Total loss to shareholders of 61% over the past three years. Recent Insider Transactions • Sep 13
CEO & Executive Chairperson recently bought HK$1.5m worth of stock On the 11th of September, Xuping Chen bought around 200k shares on-market at roughly HK$7.55 per share. This transaction amounted to 1.6% 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 Xuping's only on-market trade for the last 12 months. Reported Earnings • Aug 26
First half 2024 earnings released: EPS: CN¥0.90 (vs CN¥1.32 in 1H 2023) First half 2024 results: EPS: CN¥0.90 (down from CN¥1.32 in 1H 2023). Revenue: CN¥46.9b (down 25% from 1H 2023). Net income: CN¥5.87b (down 27% from 1H 2023). Profit margin: 13% (in line with 1H 2023). Revenue is expected to decline by 3.7% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Hong Kong are expected to grow by 5.5%. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than earnings. Duyuru • Aug 23
Longfor Group Holdings Limited Announces Ordinary Interim (Semi-Annual) Cash Dividend for the Six Months Ended June 30, 2024, Payable on 08 April 2025 Longfor Group Holdings Limited announced ordinary interim (semi-annual) cash dividend of RMB 0.22 per share for the six months ended June 30, 2024, payable on 08 April 2025. Record date is 27 February 2025. Ex-dividend date is 24 February 2025. Duyuru • Aug 12
Longfor Group Holdings Limited to Report First Half, 2024 Results on Aug 23, 2024 Longfor Group Holdings Limited announced that they will report first half, 2024 results on Aug 23, 2024 Upcoming Dividend • Jul 05
Upcoming dividend of HK$0.25 per share Eligible shareholders must have bought the stock before 12 July 2024. Payment date: 22 August 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 5.2%. Lower than top quartile of Hong Kong dividend payers (8.0%). Lower than average of industry peers (6.1%). Duyuru • Jun 19
Longfor Group Holdings Limited Announces Final Dividend for Year Ended 31 December 2023, Payable on 22 August 2024 Longfor Group Holdings Limited announced a final dividend of RMB 0.23 per share for the year ended 31 December 2023. Ex-dividend date is 12 July 2024. Record date is 17 July 2024. Payment date is 22 August 2024. Date of shareholders' approval is 18 June 2024. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$13.80, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Real Estate industry in Hong Kong. Total loss to shareholders of 65% over the past three years. New Risk • May 08
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$17m 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: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). 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 (6.7% increase in shares outstanding). Significant insider selling over the past 3 months (HK$17m sold). Reported Earnings • May 02
Full year 2023 earnings released: EPS: CN¥2.07 (vs CN¥4.08 in FY 2022) Full year 2023 results: EPS: CN¥2.07 (down from CN¥4.08 in FY 2022). Revenue: CN¥180.7b (down 28% from FY 2022). Net income: CN¥12.9b (down 47% from FY 2022). Profit margin: 7.1% (down from 9.7% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 2.0% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Hong Kong are expected to grow by 5.1%. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than 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$11.00, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 73% over the past three years. Declared Dividend • Mar 25
Final dividend of CN¥0.23 announced Shareholders will receive a dividend of CN¥0.23. Ex-date: 12th July 2024 Payment date: 22nd August 2024 Dividend yield will be 5.7%, which is lower than the industry average of 6.6%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Mar 24
Longfor Group Holdings Limited, Annual General Meeting, Jun 18, 2024 Longfor Group Holdings Limited, Annual General Meeting, Jun 18, 2024. Agenda: To consider the payment of a final dividend of RMB0.23 per share for the year ended December 31, 2023; and to consider other matters. Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: CN¥2.07 (vs CN¥4.08 in FY 2022) Full year 2023 results: EPS: CN¥2.07 (down from CN¥4.08 in FY 2022). Revenue: CN¥180.7b (down 28% from FY 2022). Net income: CN¥12.9b (down 47% from FY 2022). Profit margin: 7.1% (down from 9.7% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.6% 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 but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings. Duyuru • Mar 13
Longfor Group Holdings Limited to Report Fiscal Year 2023 Results on Mar 22, 2024 Longfor Group Holdings Limited announced that they will report fiscal year 2023 results on Mar 22, 2024 Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$10.84, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$10.04, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 72% over the past three years. New Risk • Feb 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 9.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.3% operating cash flow to total debt). Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.9% average weekly change). Shareholders have been diluted in the past year (3.9% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$8.86, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 77% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of CN¥0.32 per share at 10.0% yield Eligible shareholders must have bought the stock before 29 December 2023. Payment date: 08 February 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 10.0%. Within top quartile of Hong Kong dividend payers (8.5%). Higher than average of industry peers (5.9%). Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to HK$15.60, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 6x in the Real Estate industry in Hong Kong. Total loss to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$23.52 per share. Duyuru • Sep 01
Longfor Group Holdings Limited Announces That Shen Ying Has Been Appointed as A Member of the Environmental, Social and Governance Committee The board of directors of Longfor Group Holdings Limited announced that, Ms. Shen Ying, an executive Director of the Company, has been appointed as a member of the environmental, social and governance committee of the Board with effect from 31 August 2023. Recent Insider Transactions • Aug 26
CEO & Executive Chairperson recently bought HK$3.1m worth of stock On the 24th of August, Xuping Chen bought around 200k shares on-market at roughly HK$15.60 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Xuping has been a buyer over the last 12 months, purchasing a net total of HK$14m worth in shares. New Risk • Aug 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.4% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Reported Earnings • Aug 19
First half 2023 earnings released: EPS: CN¥1.32 (vs CN¥1.27 in 1H 2022) First half 2023 results: EPS: CN¥1.32 (up from CN¥1.27 in 1H 2022). Revenue: CN¥62.0b (down 35% from 1H 2022). Net income: CN¥8.06b (up 7.7% from 1H 2022). Profit margin: 13% (up from 7.9% in 1H 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.2% 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 9% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Duyuru • Aug 19
Longfor Group Holdings Limited Announces Ordinary Interim (Semi-Annual) Dividend for the Period Ended June 30, 2023 for the Financial Year Ending 31 December 2023, Payment Date 08 February 2024 Longfor Group Holdings Limited announced Ordinary Interim (Semi-annual) dividend of RMB 0.32 per share for the period ended June 30, 2023 for the financial year ending 31 December 2023. Ex-dividend date 29 December 2023, Book close period From 03 January 2024 to 04 January 2024, Record date 04 January 2024 and Payment date 08 February 2024. Duyuru • Aug 05
Longfor Group Holdings Limited to Report First Half, 2023 Results on Aug 18, 2023 Longfor Group Holdings Limited announced that they will report first half, 2023 results on Aug 18, 2023 New Risk • Jul 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (4.4% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (4.3% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to HK$18.56, 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 loss to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$36.04 per share. Upcoming Dividend • Jun 30
Upcoming dividend of HK$0.88 per share at 6.4% yield Eligible shareholders must have bought the stock before 07 July 2023. Payment date: 21 August 2023. Payout ratio is a comfortable 28% and this is well supported by cash flows. Trailing yield: 6.4%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (5.3%). Duyuru • Jun 17
Longfor Group Holdings Limited Declares Final Dividend for Year Ended 31 December 2022, Payable on August 21, 2023 Longfor Group Holdings Limited announced at the AGM held on June 16, 2023 that the company approved to declare a final dividend of RMB 0.80 per share for the year ended 31 December 2022. Ex-dividend date is 07 July 2023. Record date is 12 July 2023. Payment date is August 21, 2023. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$18.34, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 6x in the Real Estate industry in Hong Kong. Total loss to shareholders of 42% over the past three years. Recent Insider Transactions • May 20
CEO & Executive Chairperson recently bought HK$3.5m worth of stock On the 18th of May, Xuping Chen bought around 200k shares on-market at roughly HK$17.60 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Xuping has been a buyer over the last 12 months, purchasing a net total of HK$11m worth in shares. Reported Earnings • Apr 29
Full year 2022 earnings released: EPS: CN¥4.08 (vs CN¥4.05 in FY 2021) Full year 2022 results: EPS: CN¥4.08 (up from CN¥4.05 in FY 2021). Revenue: CN¥250.6b (up 12% from FY 2021). Net income: CN¥24.4b (up 2.1% from FY 2021). Profit margin: 9.7% (down from 11% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 8.9% growth forecast for the Real Estate industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Buying Opportunity • Apr 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.6%. The fair value is estimated to be HK$29.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 0.3% per annum. Earnings is forecast to grow by 3.1% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$24.85, 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 loss to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$30.10 per share. Reported Earnings • Mar 19
Full year 2022 earnings released: EPS: CN¥4.08 (vs CN¥4.05 in FY 2021) Full year 2022 results: EPS: CN¥4.08 (up from CN¥4.05 in FY 2021). Revenue: CN¥250.6b (up 12% from FY 2021). Net income: CN¥24.4b (up 2.1% from FY 2021). Profit margin: 9.7% (down from 11% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Hong Kong are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 11% 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 • Mar 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$20.10, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$28.14 per share. Buying Opportunity • Mar 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be HK$27.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 3.1% in 2 years. Earnings is forecast to grow by 8.9% in the next 2 years. Board Change • Feb 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Executive Director Xuzhong Zhang was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Jan 11
Longfor Group Holdings Limited Announces Board Changes The board of directors of Longfor Group Holdings Limited announced that Mr. Shao Mingxiao ("Mr. Xiao") has tendered his resignation as a non-executive director of the Company and vice chairperson of the Board due to his desire to retire with effect from 10 January 2023. He will act as a consultant of the Company to provide strategic and directional advice for the Company. The Board announced that Mr. Zhang Xuzhong ("Mr. Zhang") has been appointed as an executive director and a member of the investment committee of the Company with effect from 10 January 2023. Mr. Zhang Xuzhong, aged 48, is the vice president of the Group and the general manager of the property development segment. Mr. Zhang had served as the general manager of Zhejiang Longfor since joining the Group in 2014 and was re-designated as the general manager of the Group's property development segment in 2022. Mr. Zhang graduated from Southeast University in 1997 and obtained a Bachelor degree in civil engineering majoring in industrial and civil engineering. He graduated from the University of South Australia in 2004 and obtained a master degree in business administration. Mr. Zhang is a director of certain subsidiaries of the Company. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improved over the past week After last week's 21% share price gain to HK$23.10, the stock trades at a forward P/E ratio of 5x. 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$43.19 per share. Upcoming Dividend • Nov 17
Upcoming dividend of CN¥0.33 per share Eligible shareholders must have bought the stock before 24 November 2022. Payment date: 20 January 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 9.3%. Within top quartile of Hong Kong dividend payers (9.0%). Higher than average of industry peers (6.1%). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Ming Zeng was the last independent director to join the board, commencing their role in 2011. 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 • Oct 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$15.58, 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 46% over the past three years. Recent Insider Transactions • Oct 26
CEO & Executive Director recently bought HK$925k worth of stock On the 18th of October, Xuping Chen bought around 50k shares on-market at roughly HK$18.50 per share. This transaction amounted to 2.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$3.0m. Xuping has been a buyer over the last 12 months, purchasing a net total of HK$6.7m worth in shares. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment deteriorated over the past week After last week's 18% share price decline to HK$20.00, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total loss to shareholders of 31% over the past three years. Reported Earnings • Aug 27
First half 2022 earnings released: EPS: CN¥1.27 (vs CN¥1.26 in 1H 2021) First half 2022 results: EPS: CN¥1.27 (up from CN¥1.26 in 1H 2021). Revenue: CN¥94.8b (up 56% from 1H 2021). Net income: CN¥7.48b (flat on 1H 2021). Profit margin: 7.9% (down from 12% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 1.6%, 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 increased by 12% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 19% share price gain to HK$24.90, 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. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to HK$29.85, 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 returns to shareholders of 8.9% over the past three years. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. CEO & Executive Director Xuping Chen was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Apr 09
Independent Non-Executive Director recently sold HK$4.8m worth of stock On the 31st of March, Ming Zeng sold around 120k shares on-market at roughly HK$40.30 per share. In the last 3 months, they made an even bigger sale worth HK$5.1m. Despite this recent sale, insiders have collectively bought HK$95m more than they sold in the last 12 months. Board Change • Mar 22
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 6 highly experienced directors. CEO & Executive Director Xuping Chen was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jan 26
Independent Non-Executive Director recently sold HK$5.1m worth of stock On the 19th of January, Ming Zeng sold around 120k shares on-market at roughly HK$42.56 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought HK$100m more than they sold in the last 12 months. Upcoming Dividend • Dec 09
Upcoming dividend of CN¥0.47 per share Eligible shareholders must have bought the stock before 16 December 2021. Payment date: 24 January 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of Hong Kong dividend payers (7.2%). Lower than average of industry peers (5.7%). Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improved over the past week After last week's 17% share price gain to HK$39.35, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total returns to shareholders of 110% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$72.97 per share. Reported Earnings • Sep 26
First half 2021 earnings released: EPS CN¥1.26 (vs CN¥1.08 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: CN¥60.6b (up 19% from 1H 2020). Net income: CN¥7.42b (up 17% from 1H 2020). Profit margin: 12% (in line with 1H 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Sep 14
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Ming Zeng was the last independent director to join the board, commencing their role in 2011. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 04
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Ming Zeng was the last independent director to join the board, commencing their role in 2011. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 28
First half 2021 earnings released: EPS CN¥1.26 (vs CN¥1.08 in 1H 2020) The company reported a solid first half result with improved earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: CN¥60.6b (up 19% from 1H 2020). Net income: CN¥7.42b (up 17% from 1H 2020). Profit margin: 12% (in line with 1H 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Aug 28
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Ming Zeng was the last independent director to join the board, commencing their role in 2011. 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 • Jul 31
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥36.25, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 5x in the Real Estate industry in Hong Kong. Total returns to shareholders of 97% over the past three years. Upcoming Dividend • Jun 14
Upcoming dividend of CN¥1.03 per share Eligible shareholders must have bought the stock before 21 June 2021. Payment date: 15 July 2021. Trailing yield: 3.8%. Lower than top quartile of Hong Kong dividend payers (5.9%). Lower than average of industry peers (4.5%). Reported Earnings • Apr 28
Full year 2020 earnings released: EPS CN¥3.41 (vs CN¥3.13 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¥184.5b (up 22% from FY 2019). Net income: CN¥20.0b (up 9.1% from FY 2019). Profit margin: 11% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Apr 14
CEO & Executive Director recently sold HK$55m worth of stock On the 12th of April, Mingxiao Shao sold around 1m shares on-market at roughly HK$50.03 per share. This was the largest sale by an insider in the last 3 months. Mingxiao has been a seller over the last 12 months, reducing personal holdings by HK$92m. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS CN¥3.41 (vs CN¥3.13 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¥184.5b (up 22% from FY 2019). Net income: CN¥20.0b (up 9.1% from FY 2019). Profit margin: 11% (down from 12% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 02
New 90-day high: HK$47.70 The company is up 6.0% from its price of HK$44.80 on 02 December 2020. The Hong Kong market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Real Estate industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$56.09 per share. Is New 90 Day High Low • Feb 04
New 90-day low: HK$41.50 The company is down 13% from its price of HK$47.50 on 06 November 2020. The Hong Kong market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$125 per share. Upcoming Dividend • Dec 10
Upcoming Dividend of CN¥0.40 Per Share Will be paid on the 15th of January to those who are registered shareholders by the 17th of December. The trailing yield of 3.4% is below the top quartile of Hong Kong dividend payers (6.8%), and is lower than industry peers (5.3%). Valuation Update With 7 Day Price Move • Dec 08
Market pulls back on stock over the past week After last week's 15% share price decline to CN¥43.05, the stock is trading at a trailing P/E ratio of 11.6x, down from the previous P/E ratio of 13.7x. This compares to an average P/E of 8x in the Real Estate industry in Hong Kong. Total returns to shareholders over the past three years are 160%. Is New 90 Day High Low • Nov 05
New 90-day high: HK$46.95 The company is up 25% from its price of HK$37.45 on 07 August 2020. The Hong Kong market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$122 per share. Is New 90 Day High Low • Oct 07
New 90-day high: HK$44.95 The company is up 18% from its price of HK$38.05 on 09 July 2020. The Hong Kong market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$124 per share. Reported Earnings • Sep 26
First half earnings released Over the last 12 months the company has reported total profits of CN¥18.4b, up 7.2% from the prior year. Total revenue was CN¥163.6b over the last 12 months, up 28% from the prior year.