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HONG KONG EXCHANGES AND CLEARING LIMITED

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Delayed Hong Kong Stock Exchange  -  04:08 2022-08-12 am EDT
348.60 HKD   +0.17%
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Trading in over 30 Hong Kong-listed firms halted on results delay

04/01/2022 | 12:37am EDT
FILE PHOTO: Sign of the Kaisa Plaza, a real estate property developed by Kaisa Group Holdings, is seen near its apartment building in Beijing

HONG KONG (Reuters) - The Hong Kong stock exchange suspended from trade on Friday the shares of Chinese developers such as Sunac China, Shimao Group and Kaisa Group, and about 30 other firms for a delay in declaring annual results.

Hong Kong-listed firms usually have three months after the end of the financial year to publish results, though regulators in 2020 allowed trade to continue if companies whose audits were affected by pandemic curbs issued preliminary results without agreement with auditors, or published management accounts.

"The exchange is committed to maintaining a fair, orderly and continuous market," the exchange operator, Hong Kong Exchanges and Clearing (HKEx), said in a statement.

It would monitor developments to ensure suspensions were as short as reasonably possible, it added.

Of the 32 firms suspended for missing the March 31 deadline, 14 had audits affected by pandemic curbs, the exchange said. That compared with 57 suspended in the corresponding period last year, when two were related to COVID-19.

Late on Thursday, Shimao Group said its shares would be suspended from Friday as it was unable to publish unaudited 2021 results in time, because of the outbreak.

The pandemic had led to the lockdown of an office building at the firm's Shanghai headquarters and quarantine of some staff, with the date for curbs to be lifted still uncertain, Shimao added.

On Monday, Sunac China had said trading in its shares would be halted for missing the HKEX deadline.

On Tuesday, China Evergrande New Energy Vehicle Group Ltd, a unit of embattled developer China Evergrande Group, flagged a suspension for the same reason.

The firm would work with its auditor to publish results in about three months and seek to resume trading as soon as possible, it added.

Other companies facing trading suspensions over the delay included Aoyuan Healthy Life Group, Fantasia Holdings and Kaisa Group.

In Shanghai, more Chinese companies are halting domestic listing plans, as the coronvirus outbreak hampers due diligence and information-gathering.

(Reporting by Donny Kwok and Alun John; Editing by Clarence Fernandez)

By Donny Kwok and Alun John


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AOYUAN HEALTHY LIFE GROUP COMPANY LIMITED 0.00% 1.86 Delayed Quote.-23.77%
CHINA AOYUAN GROUP LIMITED 0.00% 1.18 Delayed Quote.-16.31%
CHINA EVERGRANDE GROUP 8.55% 1.65 Delayed Quote.3.77%
CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED 1.91% 3.2 Delayed Quote.-9.09%
FANTASIA HOLDINGS GROUP CO., LIMITED -1.96% 0.2 Delayed Quote.-38.46%
HONG KONG EXCHANGES AND CLEARING LIMITED 0.17% 348.6 Delayed Quote.-23.58%
KAISA GROUP HOLDINGS LTD. 10.53% 0.84 Delayed Quote.7.69%
SHIMAO GROUP HOLDINGS LIMITED -2.21% 4.42 Delayed Quote.-13.33%
SUNAC CHINA HOLDINGS LIMITED -5.18% 4.58 Delayed Quote.-61.12%
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Financials
Sales 2022 20 539 M 2 620 M 2 620 M
Net income 2022 12 182 M 1 554 M 1 554 M
Net cash 2022 50 153 M 6 398 M 6 398 M
P/E ratio 2022 36,3x
Yield 2022 2,46%
Capitalization 441 B 56 278 M 56 278 M
EV / Sales 2022 19,0x
EV / Sales 2023 16,2x
Nbr of Employees 2 146
Free-Float 94,1%
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Mean consensus BUY
Number of Analysts 29
Last Close Price 348,60 HKD
Average target price 421,89 HKD
Spread / Average Target 21,0%
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Managers and Directors
Alejandro Nicolas Aguzin Chief Executive Officer & Executive Director
Bik Yun Lau Group Chief Financial Officer
May Lung Cha Non-Executive Chairman
Chung Kwong Leung Group Chief Technology Officer
Trevor William Spanner Group Chief Information Officer
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