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    1918   KYG8569A1067

SUNAC CHINA HOLDINGS LIMITED

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Delayed Hong Kong Stock Exchange  -  03/31 04:08:07 am EDT
4.580 HKD   -5.18%
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China stocks fall after weak Dec lending data; property, consumption drop

01/12/2022 | 11:55pm EDT

SHANGHAI, Jan 13 (Reuters) - China stocks fell on Thursday after new bank lending in China fell more than expected in December from the previous month, led by property developers and consumption stocks.

The CSI300 index fell 0.6% to 4,818.76 at the end of the morning session, while the Shanghai Composite Index lost 0.3% to 3,586.29.

The Hang Seng index added 0.1% to 24,421.83. The Hong Kong China Enterprises Index lost 0.1% to 8,603.07.

** Chinese banks extended 1.13 trillion yuan ($177.56 billion) in new yuan loans in December, down from 1.27 trillion yuan in November, but lending for the full year of 2021 set a record..

** China's inflation data rose slower than expected in December, while the country is battling with is latest outbreaks of COVID-19, with the Omicron variant detected in several cities.

** "Although the Omicron outbreak and lower CPI inflation in December increase the likelihood of a slight cut in the PBoC's policy rates in the near term, we believe the space remains quite limited, and the impact of a rate cut may also be quite small, especially if the long-term LPR is not revised down," said Nomura in a note.

** Real estate developers dropped 2%, while consumer staples and information technology lost 1.3% and 0.9% respectively.

** However, energy stocks gained 2.3%, with coal miners up 2.8%.

** Hong Kong shares edged up on support of index heavyweight AIA gain.

** The Hang Seng Tech index declined 1.5%, with Tencent Holdings down 1.4%.

** However, insurer AIA Group rose 1.7% to become the biggest point contributor lifting the Hang Seng Index.

** Hang Seng Composite Index-Energy gained 2.5%, with PetroChina Co Ltd up 2.1% after it forecasted strong profit in 2021 on higher crude prices.

** Mainland developers listed in Hong Kong tumbled 3%, led by a 16% decline in Sunac China Holdings Ltd after it planned sale of 452 million new shares for repayment of loans and general corporate purposes.

(Reporting by Shanghai Newsroom; editing by Uttaresh.V)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AIA GROUP LIMITED 4.19% 80.85 Delayed Quote.2.86%
BELIEVE 0.97% 9.91 Real-time Quote.-41.35%
HANG SENG 2.96% 20717.24 Delayed Quote.-11.46%
NOMURA CO., LTD. 3.95% 895 Delayed Quote.-6.09%
ON SEMICONDUCTOR CORPORATION 0.70% 56.46 Delayed Quote.-16.87%
PETROCHINA COMPANY LIMITED 2.09% 3.91 Delayed Quote.12.68%
S&P/CITIC 300 INDEX 1.99% 3720.88 Real-time Quote.-17.14%
S&P/CITIC 50 INDEX 2.46% 3566.52 Real-time Quote.-15.00%
SUNAC CHINA HOLDINGS LIMITED -5.18% 4.58 Delayed Quote.-61.12%
TENCENT HOLDINGS LIMITED 3.53% 352.2 Delayed Quote.-22.90%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.46% 6.691 Delayed Quote.5.75%
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Financials
Sales 2021 266 B 41 999 M 41 999 M
Net income 2021 23 800 M 3 754 M 3 754 M
Net Debt 2021 174 B 27 490 M 27 490 M
P/E ratio 2021 0,83x
Yield 2021 26,1%
Capitalization 20 202 M 3 180 M 3 186 M
EV / Sales 2021 0,73x
EV / Sales 2022 0,70x
Nbr of Employees 68 663
Free-Float 60,3%
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 3,71 CNY
Average target price 12,43 CNY
Spread / Average Target 235%
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Managers and Directors
Meng De Wang Chief Executive Officer & Executive Director
Shu Ping Huang Executive President & Executive Director
Xi Gao Chief Financial Officer, Secretary & VP
Hong Bin Sun Chairman
Zhi Xia Ma Executive President & Chief Operating Officer