Country Garden Services (06098) is now down more than 4%. As of press release, it is down 4.44% to HK$5.81, with a turnover of HK$199 million.
The Zhitong Finance App learned that Country Garden Services (06098) is now down more than 4%. As of press release, it is down 4.44% to HK$5.81, with a turnover of HK$199 million.
Everbright Securities pointed out that as a leading property management leader, Country Garden Services has brand advantages and scale advantages. In 2023, the company accrued an impairment provision of 2.2 billion yuan for trade receivables from related parties, which was quite sufficient; in 2023, the company calculated goodwill impairment of about 1.5 billion yuan, and the net book value of goodwill was about 16.4 billion yuan. The operating performance of mergers and acquisitions companies, contract project delivery, etc. still need to be further tracked, and there is uncertainty about goodwill impairment.
Dongwu Securities previously pointed out that it is difficult for property companies to completely cut off with real estate-related parties, and there is no need to cut. If real estate partners can support each other with property companies, they should not give too many discounts to related businesses; how to balance quality and scale to achieve high-quality third-party development is currently the biggest difficulty faced by all property companies; as the industry begins to return to a normal pace of development, the property business model should match a higher dividend rate, and increasing and maintaining a high dividend rate should be a normal decision for property companies to adapt to the new stage of industry and company development.