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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Poly Real Estate Group    600048   CNE000001ND1

POLY REAL ESTATE GROUP (600048)
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Poly brings light to more places

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09/05/2018 | 07:58am CEST

A property project developed by Poly Real Estate is pictured in Dalian, Liaoning province, June 4, 2017. (PHOTO / VCG)

Beijing-headquartered conglomerate China Poly Group Corp is planning to provide more remote and rural areas in Africa with clean and affordable solar power and quality-verified off-grid lighting and energy products.

The company will look to tap rural and remote areas in Africa, including Uganda and Tanzania, to provide alternative lighting and energy sources for the off-grid population, Zhang Zhengao, president of China Poly Group, said during the Forum on China-Africa Cooperation in Beijing.

Based on the company's overseas engineering projects, Poly said it would also donate a batch of schools, portable houses, solar water pumping systems as well as materials including books, medicines and sports equipment to local residents in the future, to further improve the living standards in these remote areas, he said.

In five years, the solar power systems, mostly in very remote areas where grid access is costly and logistically challenging, has helped provide rural end-users with clean and affordable lighting products

According to Zhang, Poly Group has provided 28,735 solar power systems for Ethiopia, which are currently being installed across eight states in the country, as part of the lighting Africa/Ethiopia program financed by the World Bank.

In five years, the solar power systems, mostly in very remote areas where grid access is costly and logistically challenging, has helped provide rural end-users with clean and affordable lighting products.

Poly Group has to date undertaken 67 projects and plants in Africa for a total contracted amount of US$5.5 billion. As many as 17 of these projects are currently under construction with a total contracted amount of up to US$989 million, said Xu Niansha, chairman of China Poly Group Corp.

The corporation, which has set up long-term economic and trade cooperation with more than 50 African countries so far, has been operating mostly in projects focused on economic and trade cooperation and in transportation, industrial and housing construction in overseas markets. Trade contracts with African countries in 2017 reached US$801 million, he said.

According to Xu, the company will step up cooperation in the performances and theater management sector, and look to export more Chinese cultural products to African markets, while introducing African classics to the Chinese market.

"Cultural exports, which undertake the responsibility of cultural communication between different countries, will help enhance the soft power of a country," he said.

"As the friendship between Chinese and African peoples continues to be strengthened, Poly will make more efforts to expand people-to-people exchanges."

According to Xu, China and Africa, with similar historical development phases, has tremendous potential in cultural industries cooperation.

China-Africa cultural exchange should be bilateral, and in addition to introducing Chinese culture to the African continent, Poly will look to showcase African culture to the Chinese audience and actively participate in the management and operation of the African national cultural exchange center, he said.

zhengxin@chinadaily.com.cn

(c) 2018 China Daily Information Company. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (CNY)
Sales 2018 188 B
EBIT 2018 37 133 M
Net income 2018 19 967 M
Debt 2018 127 B
Yield 2018 3,50%
P/E ratio 2018 7,88
P/E ratio 2019 6,32
EV / Sales 2018 1,51x
EV / Sales 2019 1,18x
Capitalization 156 B
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 16,3  CNY
Spread / Average Target 24%
EPS Revisions
Managers
NameTitle
Ping Liu General Manager & Director
Guang Ju Song Chairman
Jun Fu Chairman-Supervisory Board
Dong Li Zhou Chief Financial Officer
Zhen Gao Zhang Director
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