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

CHINA EVERGRANDE GROUP

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China shares drop on property sector woes, Xi speech aids tech stocks

10/14/2020 | 12:56am EST

* SSEC -0.54%, CSI -0.61%, HSI -0.27%

* Property sector leads losses on Evergrande's slimmed share-sale

* Tencent hits record high on Xi's speech

BEIJING, Oct 14 (Reuters) - China stocks slid on Wednesday, with property firms leading the losses due to mounting pressure for raising fresh cash under the government's new debt-ratio caps, while some tech shares climbed after comments from President Xi Jinping.

** At the midday break, the Shanghai Composite index was down 0.54% at 3,341.73.

** China's blue-chip CSI300 index fell 0.61%, with the real estate sub-index dropping 1.09%, while the healthcare index inched up 0.09%. The financial sector sub-index slipped by 0.56%, while the consumer staples sector was down 0.76%.

** Chinese H-shares listed in Hong Kong rose 0.02% to 9,880.74, while the Hang Seng Index was down 0.27% at 24,583.40.

** The smaller Shenzhen index was down 0.48%, the start-up board ChiNext Composite index was weaker by 0.5% and Shanghai's tech-focused STAR50 index was down 0.87%.

** Shares of China Evergrande Group, the country's most indebted property developer, fell as much as 18% in early trading. The company raised $555 million in a slimmed-down share sale after initially targeting up to double that amount.

** Shares of Shenzen-based Tencent Holdings Ltd hit an all-time high by surging 2.2% in the morning.

** Shenzhen will strengthen property rights and protection of entrepreneurs, President Xi said on Wednesday, in a speech marking the establishment of the country's first economic zone in the southern city four decades earlier.

** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.10% and Japan's Nikkei index was up 0.08%.

** The yuan was quoted at 6.7392 per U.S. dollar, 0.09% firmer than the previous close of 6.745. (Reporting by Zhang Yan in Beijing, Luoyan Liu and Andrew Galbraith in Shanghai; editing by Uttaresh.V)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP 1.47% 16.58 End-of-day quote.-23.24%
HANG SENG 0.07% 26542.09 Real-time Quote.-5.91%
MSCI AC ASIA EX JAPAN (STRD, UHD) 1.28% 800.749 Real-time Quote.14.87%
NIKKEI 225 0.05% 26800.98 Real-time Quote.13.23%
S&P/CITIC 300 INDEX -0.01% 4392.56 Delayed Quote.23.68%
S&P/CITIC 50 INDEX 0.05% 4422.92 Delayed Quote.18.30%
TENCENT HOLDINGS LIMITED 2.66% 578 End-of-day quote.53.89%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.07% 6.55415 Delayed Quote.-5.47%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) -0.13% 6.5622 Delayed Quote.-5.53%
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Financials
Sales 2020 647 B 83 464 M 83 464 M
Net income 2020 33 544 M 4 327 M 4 327 M
Net Debt 2020 619 B 79 795 M 79 795 M
P/E ratio 2020 6,36x
Yield 2020 6,78%
Capitalization 220 B 28 316 M 28 315 M
EV / Sales 2020 1,30x
EV / Sales 2021 0,90x
Nbr of Employees 131 615
Free-Float 14,9%
Chart CHINA EVERGRANDE GROUP
Duration : Period :
China Evergrande Group Technical Analysis Chart | MarketScreener
Full-screen chart
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 20,16 HKD
Last Close Price 16,58 HKD
Spread / Highest target 92,3%
Spread / Average Target 21,6%
Spread / Lowest Target -8,41%
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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