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

CHINA EVERGRANDE GROUP

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China blue-chips end higher as profits at industrial firms grow

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09/28/2020 | 04:38am EDT

SHANGHAI, Sept 28 (Reuters) - China's blue-chip index inched up on Monday, as industrial firms posted profit growth for a fourth straight month in August, pointing to a continued recovery in the world's second-largest economy from the coronavirus crisis.

** The blue-chip CSI300 index rose 0.3%, to 4,581.91, while the Shanghai Composite Index slipped 0.1% to 3,217.53.

** Profits at China's industrial firms grew, buoyed in part by a rebound in commodities' prices and equipment manufacturing, the statistics bureau said on Sunday.

** China's recovery has been gaining momentum as pent-up demand, government stimulus and surprisingly resilient exports propel a rebound.

** Real estate firms led the gains, with the CSI300 real estate index closing 1.6% higher as worries over China Evergrande Group eased.

** China Evergrande Group on Friday night gave an update on the IPO plans of its property management and electric vehicle units, indicating they could raise about $7 billion amid mounting fears of a liquidity crisis.

** Investors also hunted for bargains following last week's sharp retreat.

** "We will buy on the dip when there are corrections in sectors we favour," said Ma Manran, chairman of Beijing Ma Manran Asset Management Company.

** Ma said he only liked leading companies in consumer, healthcare and emerging industries as China's economy is transitioning.

** The CSI300 consumer staples index added 0.7%, while the CSI300 healthcare index shed 1.3%.

** Bucking the broad strength, China's semiconductor stocks slid after the United States imposed restrictions on exports to China's biggest chip maker SMIC, citing a risk of military use.

** Dual-listed SMIC, fell more than 4% in both Hong Kong and Shanghai. (Reporting by Shanghai Newsroom)


Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP -5.07% 14.24 End-of-day quote.-34.07%
S&P/CITIC 300 INDEX -0.04% 4090.76 Delayed Quote.14.92%
S&P/CITIC 50 INDEX -0.09% 4084.57 Delayed Quote.9.46%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION 1.96% 20.8 End-of-day quote.74.20%
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Financials
Sales 2020 645 B 83 192 M 83 192 M
Net income 2020 33 434 M 4 314 M 4 314 M
Net Debt 2020 619 B 79 819 M 79 819 M
P/E ratio 2020 5,47x
Yield 2020 7,94%
Capitalization 190 B 24 485 M 24 486 M
EV / Sales 2020 1,25x
EV / Sales 2021 0,86x
Nbr of Employees 131 615
Free-Float 13,0%
Chart CHINA EVERGRANDE GROUP
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Technical analysis trends CHINA EVERGRANDE GROUP
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 20,24 HKD
Last Close Price 14,24 HKD
Spread / Highest target 124%
Spread / Average Target 42,1%
Spread / Lowest Target 6,64%
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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1st jan.Capitalization (M$)
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GREENLAND HOLDINGS CORPORATION LTD-10.07%11 258