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    688   HK0688002218

CHINA OVERSEAS LAND & INVESTMENT LTD.

(688)
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Delayed Hong Kong Stock Exchange  -  04:08 2022-07-07 am EDT
24.40 HKD   -0.41%
06/23CHINA OVERSEAS LAND & INVESTMENT LTD. : Ex-dividend day for final dividend
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06/21China Overseas Land & Investment Limited Approves Final Dividend for the Year Ended December 31, 2021
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06/19Chinese Developers Rally After PBOC Holds Lending Rates Steady
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Hong Kong-Listed Property Developers Rise on China's Lower Mortgage Rates

05/15/2022 | 10:58pm EDT

By Justina Lee


Hong Kong-listed property developers are up in early trade Monday, following a surprise move by China's central bank to reduce mortgage rates for first-home buyers.

Country Garden Holdings Co. is up 3.4% and Seazen Group Ltd. gains 4.0%. Longfor Group Holdings Ltd., China Resources Land Ltd. and China Overseas Land & Investment Ltd. add 1.5%, 0.6% and 0.4%, respectively. Guangzhou R&F Properties Co. gains 1.5%.

The Hang Seng Mainland Properties index rises 1.7%, trimming year-to-date losses to 15% and outperforming the broader Hang Seng Index's 0.2% rise.

The People's Bank of China said Sunday that it would allow commercial banks to reduce their mortgage rates by up to 20 basis points from the current floors for first-home buyers. It kept the minimum mortgage rates for second-home buyers unchanged.

Property analysts said the move could help revive part of the property market at a time when China's economy is cooling.

"We expect the new mortgage rate pricing mechanism...could help home buyers to save as much as some 70 [basis points in] borrowing cost," CGS-CIMB analysts said in a research note.

Goldman Sachs analysts added that the move "sends a loud and clear signal that policymakers are pushing for property policy easing with concrete measures.


Write to Justina Lee at justina.lee@wsj.com


(END) Dow Jones Newswires

05-15-22 2257ET

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF CHINA LIMITED 1.01% 2.88 Delayed Quote.10.68%
CHINA OVERSEAS LAND & INVESTMENT LTD. -0.41% 24.4 Delayed Quote.32.72%
CHINA RESOURCES LAND LIMITED 0.14% 36.05 Delayed Quote.9.76%
COUNTRY GARDEN HOLDINGS CO. LTD. -3.04% 4.47 Delayed Quote.-33.38%
GUANGZHOU R&F PROPERTIES CO., LTD. -3.76% 1.79 Delayed Quote.-35.86%
HONG KONG HANG SENG 0.26% 21643.58 Delayed Quote.-7.74%
LONGFOR GROUP HOLDINGS LIMITED -0.77% 34.4 Delayed Quote.-1.63%
SEAZEN GROUP LIMITED -3.29% 3.23 Delayed Quote.-36.62%
SEAZEN HOLDINGS CO., LTD -3.15% 23.36 End-of-day quote.-19.81%
All news about CHINA OVERSEAS LAND & INVESTMENT LTD.
06/23CHINA OVERSEAS LAND & INVESTMENT LTD : Ex-dividend day for final dividend
FA
06/21China Overseas Land & Investment Limited Approves Final Dividend for the Year Ended Dec..
CI
06/19Chinese Developers Rally After PBOC Holds Lending Rates Steady
DJ
06/08China Overseas Land & Investment's Contracted Property Sales Fall in May
MT
05/15Hong Kong-Listed Property Developers Rise on China's Lower Mortgage Rates
DJ
05/11China Overseas Land's Contracted Property Sales Fall Nearly 36% in April
MT
05/10China Overseas Land & Investment Limited Reports Unaudited Consolidated Contracted Prop..
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04/28CHINA OVERSEAS LAND & INVESTMENT : Documents on Display
PU
04/26Falls in Hong Kong home prices slow in March
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04/26China Overseas Land & Investment's Operating Profit Climbs Nearly 16% in Q1
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Financials
Sales 2022 311 B 39 698 M 39 698 M
Net income 2022 47 407 M 6 042 M 6 042 M
Net Debt 2022 146 B 18 648 M 18 648 M
P/E ratio 2022 5,70x
Yield 2022 5,12%
Capitalization 268 B 34 173 M 34 173 M
EV / Sales 2022 1,33x
EV / Sales 2023 1,23x
Nbr of Employees 5 692
Free-Float 33,9%
Chart CHINA OVERSEAS LAND & INVESTMENT LTD.
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Technical analysis trends CHINA OVERSEAS LAND & INVESTMENT LTD.
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 30
Last Close Price 24,50 HKD
Average target price 30,25 HKD
Spread / Average Target 23,5%
EPS Revisions
Managers and Directors
Zhi Chao Zhang Chief Executive Officer & Executive Director
Sai Kit Lui Chief Financial Officer
Jian Guo Yan Chairman
Liang Luo Executive Director, Chief Architect & VP
Lai Tai Fan Hsu Independent Non-Executive Director