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    2007   KYG245241032

COUNTRY GARDEN HOLDINGS CO. LTD.

(2007)
  Report
Delayed Hong Kong Stock Exchange  -  03:08:49 2023-02-03 am EST
2.800 HKD   -3.78%
02/01Poly Developments Surpasses Country Garden to Become Top Chinese Developer by Sales
MT
01/31Country Garden Registers Offering of 20 Billion Yuan Bonds in China
MT
01/30Hong Kong Stocks Snap Three-Day Rally; Country Garden Drops 8%
MT
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Chinese Real-Estate Stocks Surge on Rescue Measures

11/13/2022 | 11:33pm EST

By Bingyan Wang and Yifan Wang


Shares of Chinese property stocks are soaring in early trade amid reports that Beijing officials have signed off on sweeping measures aimed at aiding the embattled sector.

Among the top gainers are Country Garden Holdings Co. and Longfor Group Holdings Ltd., which surged 38% and 20%, respectively, in Hong Kong. In the mainland market, both Gemdale Corp. and Seazen Holdings Co. rose by their 10% daily limit.

China's central bank and top banking regulator are backing wide-ranging measures to boost housing demand and supply, The Wall Street Journal reported Sunday, citing officials involved in policy-making. The measures unwind some restrictions that were aimed at curbing property-developer debt and give lenders permission to extend loans to home builders in financial trouble, the officials told the Journal.

President Xi Jinping has signed off on the new policies, according to the sources.

China's real-estate sector has been under severe stress as debt funding for many companies nearly dried up amid defaults, operational inefficiencies and Beijing's tightening moves last year aimed at preventing a property bubble.

Shares of Country Garden, China's largest developer, were down more than 70% on year through last Friday. On Monday, they climbed as much as 52% in early trading.

The new bundle of 16 measures includes steps to provide liquidity to developers, ease downpayment requirements for home buyers and offer financial support for the delivery of uncompleted real estate projects. They come after the National Association of Financial Market Institutional Investors last week expanded debt financing for private developers in a bid to shore up the sector.

The new measures "could be a game-changer for being the first comprehensive supportive policy from central authorities," Citi analysts said in a note, adding that share performance should rise in the near term even as the recovery of property sales could still take time.

CCB International Securities analysts called the new measures "very positive." The brokerage reckons that property stocks that stand to benefit immediately from the measures will be private developers that have seen volatile trade in recent sessions, such as Country Garden, Seazen and CIFI Holdings (Group) Co.

In the medium term, state property companies that have underperformed peers, including Greentown China Holdings Ltd. and China Vanke Co., could gradually catch up, CCB said in a note.

CIFI Holdings rose 25%, Greentown was up 4.7% and Vanke gained 7.6% in Hong Kong.


Write to Bingyan Wang at bingyan.wang@wsj.com and Yifan Wang at yifan.wang@wsj.com


(END) Dow Jones Newswires

11-13-22 2333ET

Stocks mentioned in the article
ChangeLast1st jan.
CHINA VANKE CO., LTD. -0.55% 18.19 End-of-day quote.-0.05%
CIFI HOLDINGS (GROUP) CO. LTD. -2.61% 1.12 Delayed Quote.4.55%
COUNTRY GARDEN HOLDINGS CO. LTD. -3.78% 2.8 Delayed Quote.8.99%
GEMDALE CORPORATION -2.36% 9.5 End-of-day quote.-7.14%
GREENTOWN CHINA HOLDINGS LIMITED -1.37% 11.54 Delayed Quote.2.63%
LONGFOR GROUP HOLDINGS LIMITED -2.74% 24.85 Delayed Quote.5.14%
SEAZEN GROUP LIMITED -2.73% 2.85 Delayed Quote.1.38%
SEAZEN HOLDINGS CO., LTD -1.32% 20.18 End-of-day quote.-1.56%
All news about COUNTRY GARDEN HOLDINGS CO. LTD.
02/01Poly Developments Surpasses Country Garden to Become Top Chinese Developer by Sales
MT
01/31Country Garden Registers Offering of 20 Billion Yuan Bonds in China
MT
01/30Hong Kong Stocks Snap Three-Day Rally; Country Garden Drops 8%
MT
01/27Country Garden Holdings to Receive $50 Million Loan Facility
MT
01/27Hong Kong stocks ease ahead of China market reopening after Lunar New Year holiday
RE
01/26Country Garden Holdings Company Limited Enters Facility Agreement with China Minsheng B..
CI
01/19Pre-Holiday Caution Blunts Hong Kong Shares
MT
01/18China Merchants Land Unit to Acquire 18% Stake in Property Developer for 261.2 Million ..
MT
01/18Jiashili Group Unit to Purchase Property in China for 100 Million Yuan
MT
01/18Country Garden Redeems $625 Million Bonds at Maturity; Shares Fall 7%
MT
More news
Analyst Recommendations on COUNTRY GARDEN HOLDINGS CO. LTD.
More recommendations
Financials
Sales 2022 429 B 63 397 M 63 397 M
Net income 2022 14 503 M 2 145 M 2 145 M
Net Debt 2022 153 B 22 669 M 22 669 M
P/E ratio 2022 3,97x
Yield 2022 1,90%
Capitalization 66 025 M 9 764 M 9 764 M
EV / Sales 2022 0,51x
EV / Sales 2023 0,58x
Nbr of Employees 139 267
Free-Float 40,6%
Chart COUNTRY GARDEN HOLDINGS CO. LTD.
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Country Garden Holdings Co. Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends COUNTRY GARDEN HOLDINGS CO. LTD.
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 2,41 CNY
Average target price 3,17 CNY
Spread / Average Target 31,2%
EPS Revisions
Managers and Directors
Yong Hong Mei Chief Executive Officer
Bin Mo President & Executive Director
Bi Jun Wu Chief Financial Officer & Executive Director
Kwok Keung Yeung Co-Chairman
Hui Yan Yang Co-Chairman