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CICC: Maintaining CNOOC Properties' (02669) “Outperform the Market” Rating Target Price to HK$6
CICC lowered CNOOC Property's (02669) net profit forecast for this year and next year by 15%/16% to 15.8/1.82 billion yuan, respectively.
China Overseas Property Holdings (HKG:2669) Could Easily Take On More Debt
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the permanent loss of capital.'
CNOOC Properties (02669) spent HK$2.148,500 to buy back 500,000 shares on March 27
CNOOC Properties (02669) announced that it will spend HK$2.148,500 to repurchase shares on March 27, 2024...
Nomura: Maintaining CNOOC Properties' “Neutral” Rating and Lowering Target Price to HK$4.95
Nomura released a research report stating that while maintaining the “neutral” rating of CNOOC Properties (02669), the target price was lowered from HK$7.1 to HK$4.95. The company's profit growth and dividend performance last year fell short of expectations. Although profit increased 23% year over year to RMB 1.34 billion, it fell short of the bank's and market expectations of RMB 1.7 billion and RMB 1.53 billion respectively. The bank believed that the Group's performance ranged from excellent to mediocre. Sales in the second half of last year were almost flat, and the dividend payout ratio only remained at over 30% year over year, which surprised the market.
Xiaomo: Lowering the target price of CNOOC Properties (02669) to HK$3.8, downgrading the rating to “reduce holdings”
The sharp drop in CNOOC Property's (02669) stock price reflects a decline in investors' confidence in the company as a whole.
Changes in Hong Kong stocks | CNOOC Properties (02669) continued to drop 5%, profit slowed in the second half of last year, Citi lowered its earnings estimates and target prices
The Zhitong Finance App learned that CNOOC Property (02669) continued to fall 5% and closed down more than 24% yesterday. As of press release, it decreased by 5.11% to HK$4.27, with a turnover of HK$103 million. According to the news, CNOOC Property announced its 2023 annual results yesterday, with revenue of 13.51 billion yuan (RMB, same below), up 19.7% year on year; profit attributable to the company's shareholders of 1,342.5 billion yuan, up 22.8% year on year; final interest of HK 8.5 cents, or HK8 cents for the same period last year. Damo pointed out that the company's revenue rose 19.7% year on year to 13 billion yuan last year, which is 7% lower than the forecast.
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