Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. HengTen Networks Group Limited
  6. News
  7. Summary
    136   BMG4404N1149

HENGTEN NETWORKS GROUP LIMITED

(136)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancials 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

China property bonds score strong weekly bounce, Evergrande misses out

11/21/2021 | 08:40pm EST
FILE PHOTO: The China Evergrande Centre building sign is seen in Hong Kong

LONDON (Reuters) - Chinese property firms saw their battered bonds cement a strong weekly bounce on Friday, although there was one notable absentee from the rally: China Evergrande Group.

A flurry of asset sales and share placings, including some from Evergrande itself, has sparked hopes this week that the heavily-indebted sector will be able to avoid a full-blown crisis and finally stabilise.

Friday's gainers included China's top property developer Country Garden, whose bonds were nearly back to par, or 100 cents on the dollar, having tumbled to around 80 cents last week in a sector-wide slide.

Shimao was also a notable rebounder. Its bonds completed a yo-yo back up to 90 cents having plunged to around 70 last week in a breakneck fall capped when S&P Global stripped it of its prized investment grade credit rating.

Market watchers put the rebound down to relief that firms have been able to raise money via share placing and asset sales this week, even if they have had to offer deep discounts to get the deals done.

Country Garden Services Holdings, the property services unit of China's top developer, raised $1 billion on Thursday from share placings, two sources told Reuters.

Sunac China, among the top four developers in the country, raised a total of $949.70 million, while Evergrande also struck a deal to sell its entire stake in streaming services firm HengTen for HK$2.13 billion ($273.5 million).

Despite the gains elsewhere, though, Evergrande's bonds have remained rooted at between 23 and 29 cents on the dollar this week - a 71%-77% mark down from their value back in May when the Chinese property sector's troubles first began to snowball.

S&P cautioned this week that Evergande, the world's most indebted developer with around $19 billion of international market bonds and $300 billion of liabilities altogether, was still "highly likely" to default as it has $3.5 billion to repay in March and April next year alone.

(This story corrects spelling error in first paragraph)

(Reporting by Marc Jones; Editing by Andrew Cawthorne)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP 4.88% 1.72 End-of-day quote.8.18%
COUNTRY GARDEN HOLDINGS COMPANY LIMITED 8.28% 6.67 End-of-day quote.-3.61%
COUNTRY GARDEN SERVICES HOLDINGS COMPANY LIMITED 8.42% 42.5 End-of-day quote.-8.99%
HENGTEN NETWORKS GROUP LIMITED -2.15% 2.28 End-of-day quote.-22.71%
SHANGHAI SHIMAO CO., LTD. 1.15% 3.53 End-of-day quote.7.62%
SHIMAO GROUP HOLDINGS LIMITED 11.33% 5.6 End-of-day quote.9.80%
SUNAC CHINA HOLDINGS LIMITED 7.62% 9.46 End-of-day quote.-19.69%
All news about HENGTEN NETWORKS GROUP LIMITED
01/04Hengten Networks Unit Partners With Tencent Arm to Boost Game Technology; Shares Fall 4..
MT
2021HengTen Networks Group Limited Announces Director Changes
CI
2021China property bonds score strong weekly bounce, Evergrande misses out
RE
2021GLOBAL MARKETS LIVE : Baidu, Cisco, Nvidia, Amazon, Apple...
2021China Evergrande sells streaming platform stake at steep discount; S&P says default "li..
RE
2021Chinese Shares Retreat Anew With Modest Losses; Two Debutants Post Strong Gains
MT
2021China Evergrande sells entire stake in streaming platform HengTen to ease debt burden
RE
2021Evergrande Offloads Remaining 18% Stake in HengTen for $274 Million; Shares Slide 3%
MT
2021China Evergrande to Sell Stake in Film Production Company for $273 Million
DJ
2021China Evergrande sells entire stake in streaming platform HengTen for $273 mln
RE
More news
Analyst Recommendations on HENGTEN NETWORKS GROUP LIMITED
More recommendations
Financials
Sales 2020 230 M 36,3 M 36,3 M
Net income 2020 12,0 M 1,89 M 1,89 M
Net cash 2020 1 032 M 163 M 163 M
P/E ratio 2020 1 777x
Yield 2020 -
Capitalization 17 223 M 2 714 M 2 715 M
EV / Sales 2019 18,3x
EV / Sales 2020 73,8x
Nbr of Employees -
Free-Float 45,9%
Chart HENGTEN NETWORKS GROUP LIMITED
Duration : Period :
HengTen Networks Group Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HENGTEN NETWORKS GROUP LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Managers and Directors
Liming Ke Executive Chairman
Shing Yim Chau Independent Non-Executive Director
Zhi Xin Nie Independent Non-Executive Director
Hai Quan Chen Independent Non-Executive Director
Zhuo Min Shi Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
HENGTEN NETWORKS GROUP LIMITED-22.71%2 702
ALIBABA GROUP HOLDING LIMITED7.53%346 292
MEITUAN-4.88%168 848
SHOPIFY INC.-25.15%129 488
PINDUODUO INC.10.38%80 649
MERCADOLIBRE, INC.-21.32%53 534