not vested
COPH is our top pick for the property management sector.
We maintain BUY on COPH with a target price of HK$11.69.
We expect COPH to report resilient 1H23 results as:
a) expansion of GFA under management and contracted GFA is expected to be on track,
b) community VAS is expected to deliver decent revenue growth, thanks to the
company’s strong brand, and
c) we remain confident in COPH’s cost control ability and expect marginal improvement in GP margin, as compared to 15.9% last year.
Besides, on 31 Jul 23, NDRC reiterated support for the use of housing maintenance fund (HMF) and housing provident fund to steadily promote the renovation of old residential communities,
which may be potentially new growth drivers to PM companies.
Currently, COPH is trading at 14.4x 2024F P/E (close to 1.0SD below mean), and 2.1% 2024F dividend yield.
Source: UOBKH
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China Overseas Property Holding 2669
9 posts
• Page 1 of 1
China Overseas Property Holding 2669
by winston » Wed Aug 02, 2023 10:12 am
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 118900
- Joined: Wed May 07, 2008 9:28 am
Re: China Overseas Property Holding 2669
by winston » Wed Mar 27, 2024 8:35 am
CHINA OVS PPT Tumbles 12%+ despite 2023 NP Rises ~23% w/ Higher Div.
CHINA OVS PPT (02669.HK) last printed at $5.23, down 12.25%, on volume of 10.2858 million shares and turnover of $55.1016 million.
CHINA OVS PPT had announced its annual results for the year ended December 2023.
Revenue was RMB13.051 billion, up 19.7% YoY.
Net profit elevated 22.8% YoY to RMB1.343 billion, with an EPS of RMB40.84 cents.
A final dividend of HKD8.5 cents was declared, compared to HKD8 cents in the same period last year.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
CHINA OVS PPT (02669.HK) last printed at $5.23, down 12.25%, on volume of 10.2858 million shares and turnover of $55.1016 million.
CHINA OVS PPT had announced its annual results for the year ended December 2023.
Revenue was RMB13.051 billion, up 19.7% YoY.
Net profit elevated 22.8% YoY to RMB1.343 billion, with an EPS of RMB40.84 cents.
A final dividend of HKD8.5 cents was declared, compared to HKD8 cents in the same period last year.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 118900
- Joined: Wed May 07, 2008 9:28 am
Re: China Overseas Property Holding 2669
by winston » Wed Mar 27, 2024 1:58 pm
vested
HSBC Research Trims CHINA OVS PPT (02669.HK) TP to $7.1; Profit Misses Growth Guidance
CHINA OVS PPT (02669.HK) reported decent 2023 results, with net profit rising 22% YoY, 3% and 10% lower than the expectations of HSBC Global Research and the market, HSBC Global Research issued a research report saying.
Dividend payout stabilized at 31%, with the annual dividend increasing by 17% to $14 cents per share.
However, CHINA OVS PPT's results seem to have disappointed the market, as it missed its long term growth guidance.
Related News: Citi Drops CHINA OVS PPT (02669.HK) TP to $7, Eyes Sector Top 3 Competitiveness
HSBC Global Research lowered its EPS forecasts for 2024/ 2025 by 9.8%/ 10% respectively, which is expected to weigh on the share price in the short term.
However, CHINA OVS PPT is still one of the few state-owned enterprises (SOEs) that can maintain solid net profit growth.
HSBC Global Research saw merit in its SOE background and strong third-party expansion, and trimmed its target price from $9.3 to $7.1, with rating at Buy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
HSBC Research Trims CHINA OVS PPT (02669.HK) TP to $7.1; Profit Misses Growth Guidance
CHINA OVS PPT (02669.HK) reported decent 2023 results, with net profit rising 22% YoY, 3% and 10% lower than the expectations of HSBC Global Research and the market, HSBC Global Research issued a research report saying.
Dividend payout stabilized at 31%, with the annual dividend increasing by 17% to $14 cents per share.
However, CHINA OVS PPT's results seem to have disappointed the market, as it missed its long term growth guidance.
Related News: Citi Drops CHINA OVS PPT (02669.HK) TP to $7, Eyes Sector Top 3 Competitiveness
HSBC Global Research lowered its EPS forecasts for 2024/ 2025 by 9.8%/ 10% respectively, which is expected to weigh on the share price in the short term.
However, CHINA OVS PPT is still one of the few state-owned enterprises (SOEs) that can maintain solid net profit growth.
HSBC Global Research saw merit in its SOE background and strong third-party expansion, and trimmed its target price from $9.3 to $7.1, with rating at Buy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 118900
- Joined: Wed May 07, 2008 9:28 am
Re: China Overseas Property Holding 2669
by winston » Wed Mar 27, 2024 2:02 pm
vested
Nomura Trims CHINA OVS PPT (02669.HK) TP to $4.95; From Excellence to Mediocrity
CHINA OVS PPT (02669.HK)'s profit growth and dividend performance in 2023 missed forecast, with profit up 23% YoY to RMB1.34 billion but worse than the expectations of Nomura and the street of RMB1.7 billion and RMB1.53 billion, respectively, Nomura wrote in a report.
The broker assumed the group's performance to have gone from excellence to mediocrity, with sales nearly flat in 2H23, and the dividend payout ratio was only maintained at over 30% YoY, which surprised the market.
Related News: CHINA OVS PPT (02669.HK) Annual Net Profit RMB1.343B, Up 22.8%; Final Div HK8.5 Cents
Nomura trimmed its target price for CHINA OVS PPT from $7.1 to $4.95, and maintained its Neutral rating.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
Nomura Trims CHINA OVS PPT (02669.HK) TP to $4.95; From Excellence to Mediocrity
CHINA OVS PPT (02669.HK)'s profit growth and dividend performance in 2023 missed forecast, with profit up 23% YoY to RMB1.34 billion but worse than the expectations of Nomura and the street of RMB1.7 billion and RMB1.53 billion, respectively, Nomura wrote in a report.
The broker assumed the group's performance to have gone from excellence to mediocrity, with sales nearly flat in 2H23, and the dividend payout ratio was only maintained at over 30% YoY, which surprised the market.
Related News: CHINA OVS PPT (02669.HK) Annual Net Profit RMB1.343B, Up 22.8%; Final Div HK8.5 Cents
Nomura trimmed its target price for CHINA OVS PPT from $7.1 to $4.95, and maintained its Neutral rating.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 118900
- Joined: Wed May 07, 2008 9:28 am
Re: China Overseas Property Holding 2669
by winston » Wed Mar 27, 2024 2:05 pm
vested
JPM Downgrades CHINA OVS PPT (02669.HK) to Underweight, Slashes TP to $3.8
Since CHINA OVS PPT (02669.HK) released its 2023 results at yesterday's noon (26th), its share price tumbled 24%, as compared with a rise of about 1% in the HSI on the same day, mainly due to the 23% YoY increase in 2023 net profit which missed the management's guidance of a 30% YoY increase, JPMorgan released a research report saying.
Although the miss is not drastic, the sharp fall in share price reflects investors' declining confidence in the whole Company.
JPMorgan downgraded CHINA OVS PPT from Overweight to Underweight, and slashed its target price from $8.7 to $3.8, which is equivalent to a projected PE ratio of 7.5x.
JPMorgan believed that the Company's share price may rebound in the short term after the recent sharp drop, but recommended sell into strength.
In the medium term, if the Company delivers a better track record on earnings guidance and rebuilds its corporate governance, JPMorgan may turn to a positive view on the Company again.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
JPM Downgrades CHINA OVS PPT (02669.HK) to Underweight, Slashes TP to $3.8
Since CHINA OVS PPT (02669.HK) released its 2023 results at yesterday's noon (26th), its share price tumbled 24%, as compared with a rise of about 1% in the HSI on the same day, mainly due to the 23% YoY increase in 2023 net profit which missed the management's guidance of a 30% YoY increase, JPMorgan released a research report saying.
Although the miss is not drastic, the sharp fall in share price reflects investors' declining confidence in the whole Company.
JPMorgan downgraded CHINA OVS PPT from Overweight to Underweight, and slashed its target price from $8.7 to $3.8, which is equivalent to a projected PE ratio of 7.5x.
JPMorgan believed that the Company's share price may rebound in the short term after the recent sharp drop, but recommended sell into strength.
In the medium term, if the Company delivers a better track record on earnings guidance and rebuilds its corporate governance, JPMorgan may turn to a positive view on the Company again.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 118900
- Joined: Wed May 07, 2008 9:28 am
Re: China Overseas Property Holding 2669
by winston » Wed Mar 27, 2024 2:07 pm
vested
Citi Drops CHINA OVS PPT (02669.HK) TP to $7, Eyes Sector Top 3 Competitiveness
CHINA OVS PPT (02669.HK)'s share price has grossed decline of 24.5% since disclosing 2023's results, probably due to a slowdown in 2H23's profit, which grew 6.6% YoY, as well as a feeble value-added services (VAS), Citi Research wrote in a report.
The company's management is focusing on top three competitiveness in the industry and may review the 30% dividend policy in light of shareholder demand, committed to delivering double-digit profit growth.
Related News: Nomura Trims CHINA OVS PPT (02669.HK) TP to $4.95; From Excellence to Mediocrity
The broker maintained a Buy rating on the company. With 2023's result 5% lower than expected and more conservative target of the management, the broker cut its profit forecast for 2024 and 2025 by 15-19%, while dropping its target price from $8.8 to $7.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
Citi Drops CHINA OVS PPT (02669.HK) TP to $7, Eyes Sector Top 3 Competitiveness
CHINA OVS PPT (02669.HK)'s share price has grossed decline of 24.5% since disclosing 2023's results, probably due to a slowdown in 2H23's profit, which grew 6.6% YoY, as well as a feeble value-added services (VAS), Citi Research wrote in a report.
The company's management is focusing on top three competitiveness in the industry and may review the 30% dividend policy in light of shareholder demand, committed to delivering double-digit profit growth.
Related News: Nomura Trims CHINA OVS PPT (02669.HK) TP to $4.95; From Excellence to Mediocrity
The broker maintained a Buy rating on the company. With 2023's result 5% lower than expected and more conservative target of the management, the broker cut its profit forecast for 2024 and 2025 by 15-19%, while dropping its target price from $8.8 to $7.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 118900
- Joined: Wed May 07, 2008 9:28 am
Re: China Overseas Property Holding 2669
by winston » Thu Mar 28, 2024 10:45 am
vested
CICC Axes CHINA OVS PPT (02669.HK) TP by 22% to $6; Core Biz Stable
CICC wrote in a report that CHINA OVS PPT (02669.HK) 's results for 2H23 fell short of market expectations.
The broker expected its property management business to maintain steady growth, while its value-added services business should be affected by changes in the market environment and business structure.
According to the report, CHINA OVS PPT has core competence in the property management industry and has maintained rapid growth in external expansion over the past few years.
Last year, the company added 109 million square metres of gross floor area, meaning an annual contract value of more than RMB 2 billion, and the company's target for this year is no less than last year.
Related News: CHINA OVS PPT (02669.HK) Annual Net Profit RMB1.343B, Up 22.8%; Final Div HK8.5 Cents
Since CHINA OVS PPT would face continuous challenges in the market environment, CICC lowered its net profit forecasts for this year and next year by 15% and 16% to RMB1.58 billion and RMB1.82 billion respectively, representing a YoY growth of 18% and 15%.
The broker maintained its Outperform rating, but axed its target price by 22% to $6.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
CICC Axes CHINA OVS PPT (02669.HK) TP by 22% to $6; Core Biz Stable
CICC wrote in a report that CHINA OVS PPT (02669.HK) 's results for 2H23 fell short of market expectations.
The broker expected its property management business to maintain steady growth, while its value-added services business should be affected by changes in the market environment and business structure.
According to the report, CHINA OVS PPT has core competence in the property management industry and has maintained rapid growth in external expansion over the past few years.
Last year, the company added 109 million square metres of gross floor area, meaning an annual contract value of more than RMB 2 billion, and the company's target for this year is no less than last year.
Related News: CHINA OVS PPT (02669.HK) Annual Net Profit RMB1.343B, Up 22.8%; Final Div HK8.5 Cents
Since CHINA OVS PPT would face continuous challenges in the market environment, CICC lowered its net profit forecasts for this year and next year by 15% and 16% to RMB1.58 billion and RMB1.82 billion respectively, representing a YoY growth of 18% and 15%.
The broker maintained its Outperform rating, but axed its target price by 22% to $6.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 118900
- Joined: Wed May 07, 2008 9:28 am
Re: China Overseas Property Holding 2669
by winston » Thu Mar 28, 2024 4:17 pm
vested
Oct 16, 2023
China Overseas Property Holdings (2669 HK)
Acquisition Of Construction Supervision Subsidiary From 830 HK Bringing Both Risks And Opportunities
On 11 Oct 23, COPH announced the acquisition of a construction supervision subsidiary of CSCDHL (830 HK) at HK$950m, implying 18x PE over the target company’s guaranteed 2023 net profit of HK$50m.
The market is worried that the acquisition valuation was too high. However, we think this acquisition brings strategic benefits which could turn into financial benefits in the future.
Maintain BUY. Lower target price by 15.9% to HK$9.83 to factor in a higher beta.
Source: UOBKH
https://research.uobkayhian.com/content ... b3c222f2ba
Oct 16, 2023
China Overseas Property Holdings (2669 HK)
Acquisition Of Construction Supervision Subsidiary From 830 HK Bringing Both Risks And Opportunities
On 11 Oct 23, COPH announced the acquisition of a construction supervision subsidiary of CSCDHL (830 HK) at HK$950m, implying 18x PE over the target company’s guaranteed 2023 net profit of HK$50m.
The market is worried that the acquisition valuation was too high. However, we think this acquisition brings strategic benefits which could turn into financial benefits in the future.
Maintain BUY. Lower target price by 15.9% to HK$9.83 to factor in a higher beta.
Source: UOBKH
https://research.uobkayhian.com/content ... b3c222f2ba
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 118900
- Joined: Wed May 07, 2008 9:28 am
Re: China Overseas Property Holding 2669
by winston » Tue Apr 16, 2024 9:28 am
not vested
China Overseas Property Holdings (2669 HK)
Clarifying Growth Targets For 2024-26
Amid worries over its ambiguous growth target, COPH has updated its target to a 15-20% CAGR in the company’s major business indicators.
Management has also confirmed that they will review the dividend policy with the aim of steadily raising the payout ratio, which was 31% in 2023.
This is a positive move which will improve investors’ sentiment, but the market will be eyeing the execution.
Maintain our earnings forecasts. Maintain BUY with an unchanged target price of HK$5.60.
Source: UOBKH
https://research.uobkayhian.com/content ... b239fb3f3b
China Overseas Property Holdings (2669 HK)
Clarifying Growth Targets For 2024-26
Amid worries over its ambiguous growth target, COPH has updated its target to a 15-20% CAGR in the company’s major business indicators.
Management has also confirmed that they will review the dividend policy with the aim of steadily raising the payout ratio, which was 31% in 2023.
This is a positive move which will improve investors’ sentiment, but the market will be eyeing the execution.
Maintain our earnings forecasts. Maintain BUY with an unchanged target price of HK$5.60.
Source: UOBKH
https://research.uobkayhian.com/content ... b239fb3f3b
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 118900
- Joined: Wed May 07, 2008 9:28 am
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