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COUNTRY GARDEN SERVICES HOLDINGS COMPANY LIMITED

(6098)
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Country Garden Services Unit to Buy R&F Services' Property-Management Business

09/20/2021 | 08:52pm EDT

By Clarence Leong

A unit of Country Garden Services Holdings Co. has agreed to acquire R&F Property Services Group Co.'s property-management service business for up to 10 billion yuan ($1.55 billion) in a bid to consolidate its leading position in the market.

The unit, Country Garden Services HK Holdings Co., will fund the all-cash acquisition via internal resources, the parent company said Monday in a filing to the Hong Kong stock exchange.

The deal, which is pending approval from China's antitrust authority, will strengthen Country Garden Services' advantages in top-tier cities and help it develop its commercial property-management business, the company said.

As of the end of last year, R&F Property Services managed 552 projects in 102 cities across 26 provinces, autonomous regions and municipalities in China, according to the filing.

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

(END) Dow Jones Newswires

09-20-21 2051ET

Stocks mentioned in the article
ChangeLast1st jan.
COUNTRY GARDEN HOLDINGS COMPANY LIMITED 0.99% 8.16 End-of-day quote.-23.88%
COUNTRY GARDEN SERVICES HOLDINGS COMPANY LIMITED -0.45% 65.8 End-of-day quote.25.45%
DJ INDUSTRIAL 0.21% 35677.02 Delayed Quote.16.33%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.06% 6.37786 Delayed Quote.-1.74%
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Analyst Recommendations on COUNTRY GARDEN SERVICES HOLDINGS COMPANY LIMITED
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Financials
Sales 2021 26 084 M 4 086 M 4 086 M
Net income 2021 4 262 M 668 M 668 M
Net cash 2021 20 170 M 3 160 M 3 160 M
P/E ratio 2021 39,1x
Yield 2021 0,65%
Capitalization 174 B 27 241 M 27 243 M
EV / Sales 2021 5,89x
EV / Sales 2022 3,88x
Nbr of Employees 179 291
Free-Float 54,5%
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Technical analysis trends COUNTRY GARDEN SERVICES HOLDINGS COMPANY LIMITED
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Mean consensus BUY
Number of Analysts 26
Last Close Price 54,04 CNY
Average target price 73,81 CNY
Spread / Average Target 36,6%
EPS Revisions
Managers and Directors
Chang Jiang Li General Manager & Executive Director
Peng Huang Chief Financial Officer & Joint Secretary
Hui Yan Yang Chairman
Shun Song Gong Chief Operating Officer
Wen Jue Mei Independent Non-Executive Director