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SUN HUNG KAI PROPERTIES LIMITED

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Sun Hung Kai Properties : Resignation of Executive Director

04/09/2021 | 04:42am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Hong Kong with limited liability) (Stock Code : 16)

RESIGNATION OF EXECUTIVE DIRECTOR

The board of directors (the "Board") of Sun Hung Kai Properties Limited (the "Company") announces that Mr. KWONG Chun ("Mr. KWONG"), aged 91, has resigned as an Executive Director of the Company with effect from 9 April 2021 by reason of his advanced age in order that he can spend more time with his family.

Mr. KWONG has confirmed that he has no disagreement with the Board of the Company and that he is not aware of any matters in relation to his resignation that need to be brought to the attention of the holders of the securities of the Company.

Mr. KWONG worked for Mr. KWOK Tak-seng, the late founder of the Company, in Eternal Enterprises Limited since 1962 and he joined the Company since 1972 when the Company was first listed. He became an Executive Director of the Company in 1992. The Board of the Company would like to express its sincere gratitude to Mr. KWONG for his long and dedicated services of nearly 49 years to the Company, and in particular for his valuable contributions as an Executive Director for more than 28 years.

By order of the Board

YUNG Sheung-tat, Sandy

Company Secretary

Hong Kong, 9 April 2021

As at the date hereof, the Board of the Company comprises seven Executive Directors, being KWOK Ping-luen, Raymond (Chairman and Managing Director)(KWOK Ho-lai, Edward being his Alternate Director), WONG Chik-wing, Mike (Deputy Managing Director), LUI Ting, Victor (Deputy Managing Director), KWOK Kai-fai, Adam, KWOK Kai-wang, Christopher, TUNG Chi-ho, Eric and FUNG Yuk-lun, Allen; two Non-Executive Directors, being KWAN Cheuk-yin, William and KWOK Kai-chun, Geoffrey; and eight Independent Non-Executive Directors, being YIP Dicky Peter, WONG Yue-chim, Richard, LI Ka-cheung, Eric, FUNG Kwok-lun, William, LEUNG Nai-pang, Norman, LEUNG KO May-yee, Margaret, FAN Hung-ling, Henry and WU Xiang-dong.

This announcement is made in English and Chinese. In case of any inconsistency, the English version shall prevail.

Disclaimer

Sun Hung Kai Properties Ltd. published this content on 09 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 April 2021 08:41:11 UTC.


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Sales 2021 88 345 M 11 347 M 11 347 M
Net income 2021 30 303 M 3 892 M 3 892 M
Net Debt 2021 79 700 M 10 237 M 10 237 M
P/E ratio 2021 9,21x
Yield 2021 5,21%
Capitalization 277 B 35 622 M 35 620 M
EV / Sales 2021 4,04x
EV / Sales 2022 4,09x
Nbr of Employees 38 500
Free-Float 48,4%
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Mean consensus BUY
Number of Analysts 16
Last Close Price 95,70 HKD
Average target price 139,78 HKD
Spread / Average Target 46,1%
EPS Revisions
Managers and Directors
Ping Luen Kwok Chairman & Managing Director
Di Qi Ye Independent Non-Executive Director
Yue Chim Wong Independent Non-Executive Director
Kwok Lun Fung Independent Non-Executive Director
Ka Cheung Li Independent Non-Executive Director