Sino-Ocean Group's share price and EPS drop, along with halted dividends, suggest unresolved issues. Market jitters may impact performance, but long-term share price weakness could be a bad sign. Contrarian investors might see a turnaround opportunity.
Chinese property developer$碧桂園(02007.HK)$closed flat at $0.73 after reports that another US$15 million of interest on its overseas bonds is due.$遠洋集団(03377.HK)$leaped 4.8% after a proposed grace period for interest payment on subordinated bonds of its subsidiary was extended to mid-December.$EVERGRANDE(03333.HK)$shot up 3.6% after midday.$恒大汽車(00708.HK)$jumped up nearly 39%.
Despite a share price surge and upbeat growth forecasts, the company's low P/S ratio suggests potential major risk factors. Persistent revenue declines indicate shareholders are accepting lower selling prices, and the optimistic future revenue growth forecast outpacing the broader industry hasn't managed to boost the company’s P/S.
Hong Kong stocks waned in the morning along with the external market.$Hang Seng Index(800000.HK)$opened 89 points lower and, after narrowing the loss to 61 points at 17,823 at the beginning of the morning session, widened the decline later to 234 points or 1.3%, closing at 17,651 for the half-day.$Hang Seng China Enterprises Index(800100.HK)$descended 85 points or 1.4% to 6,096.$Hang Seng TECH Index(800700.HK)$declined 84 points or 2.2% to 3,837. Total half-day turn...
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Car stocks and Homebuilders also performed well
Domestic property stocks remained sought after. $龍湖集団(00960.HK)$ , $旭輝(00884.HK)$ , $緑城中国(03900.HK)$ , $合景泰富集団(01813.HK)$ and $融創中国(01918.HK)$ rocke...
Chinese developers took the lead to soar
For Chinese property developers, $中国海外発展(00688.HK)$ and $龍湖集団(00960.HK)$ spiked 3.5% and 4.7%. $華潤置地(01109.HK)$ swelled 2.6%. $遠洋集団(03377.HK)$ , to convene fourth creditors' meeting tomorrow, intends to extend interest payment deadline to mid-November. Its shares open 4.9% higher at $0.43.
$EVERGRANDE(03333.HK)$ shot up 10% to $0.55 after Guangzhou became the first T1 city to officially announce the easing of purchase restrictions. Yet $越秀地産(00123.HK)$ , $遠洋集団(03377.HK)$ , $龍湖集団(00960.HK)$ , $SEAZEN(01030.HK)$ and $融創中国(01918.HK)$ sank 1.7%-2.7%. $富力地産(02777.HK)$...
HSI Declines 234 pts; Some CN Homebuilders Elevate
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Property stocks were boosted by a report that China intends to set up a special loan programme for the transformation of urban villages. $中国金茂(00817.HK)$ and $遠洋集団(03377.HK)$ opened 2.7% ...
HSI Opens 106 pts Up; CN Real Estate Stocks & HSBC on the Rise
Domestic property stocks $中国海外発展(00688.HK)$ and $華潤置地(01109.HK)$ opened 1% higher, while $中国金茂(00817.HK)$ and $龍湖集団(00960.HK)$ opened 1.7% and 1.9% higher. $遠洋集団(03377.HK)$ announce...
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