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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Country Garden Holdings Company Limited    2007   KYG245241032

COUNTRY GARDEN HOLDINGS COMPANY LIMITED

(2007)
  Report
End-of-day quote. End-of-day quote Stock Exchange of Hong Kong - 02/14
11.02 HKD   +2.04%
02/04Companies feel impact of coronavirus outbreak in China
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02/04COUNTRY GARDEN : Unaudited operating figures for january 2020
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02/02COUNTRY GARDEN : Monthly return for the month ended 31 january 2020
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Country Garden : Chinese property firm Country Garden plans mass production of construction robots

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01/17/2020 | 04:02am EST
FILE PHOTO: Country Garden Holdings Chairman and Executive Director Yeung Kwok-keung attends a news conference in Hong Kong

China's largest property developer by sales Country Garden is planning to start mass production of construction robots next year to cut costs and raise efficiency, it said on Friday.

The group, which started investing in robotics research and development in 2018, said it aims to have at least one robot at each of its sites across the nation.

Construction robots are autonomous devices used to repair and build structures, which developers hope can cut costs and improve site safety.

Country Garden's decision to speed up its robotics development came after safety
concerns following a series of incidents at its building sites that year. (https://reut.rs/2TtWilH)

The developer, which said in 2018 it would invest 16 billion yuan (1.78 billion pounds) in robotics each year for five years, is also developing robots for its agriculture, restaurant and property management business.

Its first robotics restaurant opened in the southern city of Guangzhou early this week.

Company president Bin Mo said at a media event that in the long run, Country Garden is targeting the construction of unmanned farms, and plans to provide a home service robot in each new home it sells.

This year Mo expects the company will buy more land than last in anticipation of more merger and acquisition opportunities. Country Garden's attributable sales in 2019 grew 10% to 552.2 billion yuan.

He said he expects home prices in China to be flat in the coming year, even though some cities have relaxed a policy of restricting purchases to curb speculation.

Though Chinese property investment grew at a solid pace in 2019, it hit a two-year low in December, adding to recent signs of a slackening in the sector and suggesting Beijing may need to offer more stimulus to stabilise a cooling economy.

Data on Thursday showed China's new home prices grew at their weakest pace in 17 months last month, with broader curbs on the sector continuing to cool the market.

(Reporting by Clare Jim; Editing by Jan Harvey)

Stocks mentioned in the article
ChangeLast1st jan.
COUNTRY GARDEN HOLDINGS COMPANY LIMITED 2.04% 11.02 End-of-day quote.-13.09%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.09% 6.9755 Delayed Quote.0.37%
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More news
Financials (CNY)
Sales 2019 491 B
EBIT 2019 88 890 M
Net income 2019 40 688 M
Debt 2019 76 390 M
Yield 2019 5,86%
P/E ratio 2019 5,31x
P/E ratio 2020 4,70x
EV / Sales2019 0,59x
EV / Sales2020 0,39x
Capitalization 214 B
Chart COUNTRY GARDEN HOLDINGS COMPANY LIMITED
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Technical analysis trends COUNTRY GARDEN HOLDINGS CO
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 12,39  CNY
Last Close Price 9,91  CNY
Spread / Highest target 90,2%
Spread / Average Target 25,0%
Spread / Lowest Target -17,1%
EPS Revisions
Managers
NameTitle
Bin Mo President & Executive Director
Kwok Keung Yeung Co-Chairman
Hui Yan Yang Co-Chairman
Bi Jun Wu Chief Financial Officer & Vice President
Lai Him Shek Independent Non-Executive Director