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    2007   KYG245241032

COUNTRY GARDEN HOLDINGS CO. LTD.

(2007)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-10-05 am EDT
1.960 HKD   -1.01%
04:52aHong Kong shares log best day in almost 7 weeks, consumer discretionary stocks shine
RE
01:24aHong Kong stocks track strong overseas markets, HSBC soars
RE
10/03Hong Kong stocks track broader Asia softer amid China holiday, Chinese developers jump
RE
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Country Garden Holdings' Shares Fall on Placement Plan

07/27/2022 | 12:14am EDT

By Clarence Leong


Shares of Country Garden Holdings Co. fell after the company said it will place new shares at a discount to raise funds, as sluggish property sales in China crimp developers' finances.

The Chinese home builder's stock fell 14% to HK$3.20 in Wednesday morning trade in Hong Kong and was headed toward the biggest one-day percentage drop since March. It has lost 54% so far this year.

Country Garden said in a filing Wednesday that it plans to raise 2.83 billion Hong Kong dollars (US$360.5 million) gross proceeds from the share placement. Each stock will be placed at HK$3.25, representing a 13% discount to its Tuesday's close.

The developer said proceeds would be used to refinance existing offshore debt, for general working capital and future development purposes.

Country Garden, one of China's largest private developers, posted a 35% on-year fall in contracted sales for June, following declines of 50% for May and 57% in April.

While debt repayment deadlines loom for Country Garden and other developers, property sales have remained downbeat amid weak home-buyer demand.

Shares of other Hong Kong-listed Chinese developers were also lower Wednesday. China Resources Land Ltd., Longfor Group Holdings Ltd. and China Overseas Land & Investment Ltd. were recently down by between 2.0% and 3.9%.

The city's benchmark Hang Seng Index was 1.6% lower at 20575.00.


Write to Clarence Leong at clarence.leong@wsj.com


(END) Dow Jones Newswires

07-27-22 0013ET

Stocks mentioned in the article
ChangeLast1st jan.
CHINA RESOURCES LAND LIMITED 3.42% 33.3 Delayed Quote.-1.83%
COUNTRY GARDEN HOLDINGS CO. LTD. -1.01% 1.96 Delayed Quote.-71.39%
LONGFOR GROUP HOLDINGS LIMITED 0.41% 24.45 Delayed Quote.-33.65%
All news about COUNTRY GARDEN HOLDINGS CO. LTD.
04:52aHong Kong shares log best day in almost 7 weeks, consumer discretionary stocks shine
RE
01:24aHong Kong stocks track strong overseas markets, HSBC soars
RE
10/03Hong Kong stocks track broader Asia softer amid China holiday, Chinese developers jump
RE
09/30Hong Kong Stocks Rebound from Two-Day Slide; China's Factory Activity Grows While Hong ..
MT
09/26CIFI, Longfor, Three Others Raise $865 Million From Bond Sale
MT
09/20Country Garden Raises $214 Million via Renminbi Bond Sale in China
MT
09/15China's New Home Prices Stay Soft in August
MT
09/15North American Morning Briefing : More Muted Gains Likel..
DJ
09/15Hong Kong Stocks Bounce Back from Six-Month Low; Property Counters Rise
MT
09/15Chinese Developers Soar Amid Policy Support Signals
DJ
More news
Analyst Recommendations on COUNTRY GARDEN HOLDINGS CO. LTD.
More recommendations
Financials
Sales 2022 445 B 62 589 M 62 589 M
Net income 2022 13 531 M 1 902 M 1 902 M
Net Debt 2022 149 B 20 878 M 20 878 M
P/E ratio 2022 3,05x
Yield 2022 2,88%
Capitalization 42 819 M 6 019 M 6 019 M
EV / Sales 2022 0,43x
EV / Sales 2023 0,44x
Nbr of Employees 139 267
Free-Float 40,0%
Chart COUNTRY GARDEN HOLDINGS CO. LTD.
Duration : Period :
Country Garden Holdings Co. Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends COUNTRY GARDEN HOLDINGS CO. LTD.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 1,78 CNY
Average target price 3,38 CNY
Spread / Average Target 90,3%
EPS Revisions
Managers and Directors
Yong Hong Mei Chief Executive Officer
Bin Mo President & Executive Director
Bi Jun Wu Chief Financial Officer & Vice President
Kwok Keung Yeung Co-Chairman
Hui Yan Yang Co-Chairman