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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Evergrande Group    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

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Evergrande To Buy Hong Kong Office Building For HK$12.5 Billion

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11/12/2015 | 05:16am EDT
   By Joanne Chiu 
 

Evergrande Real Estate Group Ltd. (>> Evergrande Real Estate Group Limited) agreed to buy an office property in Hong Kong from developer Chinese Estates Holdings Ltd. (>> Chinese Estates Holdings Limited) for 12.5 billion Kong Kong dollars ($1.61 billion).

The Chinese developer said Thursday that it will pay the consideration in eight installments within the next six years. The property, known as Mass Mutual Tower in Hong Kong's Wanchai district, is a 26-storey grade A office and commercial building with a total floor area of 32,090.9 square meters and 55 underground car parking spaces.

The acquisition presents the prospect of good investment returns and will enhance Evergrande's corporate image in Hong Kong as well as international markets, it said.

Write to Joanne Chiu at joanne.chiu@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP 2.07% 17.76 End-of-day quote.-17.78%
CHINESE ESTATES HOLDINGS LIMITED 0.56% 3.62 End-of-day quote.-41.33%
SQUARE, INC. -4.62% 87.72 Delayed Quote.40.22%
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Financials
Sales 2020 612 B 78 998 M 78 998 M
Net income 2020 36 218 M 4 673 M 4 673 M
Net Debt 2020 597 B 77 027 M 77 027 M
P/E ratio 2020 6,44x
Yield 2020 6,40%
Capitalization 233 B 30 045 M 30 047 M
EV / Sales 2019
EV / Sales 2020 1,36x
Nbr of Employees 133 123
Free-Float 14,4%
Chart CHINA EVERGRANDE GROUP
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Technical analysis trends CHINA EVERGRANDE GROUP
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 16,75 HKD
Last Close Price 17,76 HKD
Spread / Highest target 79,6%
Spread / Average Target -5,71%
Spread / Lowest Target -43,7%
EPS Revisions
Managers
NameTitle
Hai Jun Xia Vice Chairman & Chief Executive Officer
Shou Ming Shi President
Ka Yan Hui Chairman
Da Rong Pan Chief Financial Officer & Executive Director
Dong Feng Chen Head-Information
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