China Evergrande 3333

[winston]

not vested

DJ MARKET TALK: Evergrande +6.2%; Strong Sales But Lower Margin-CIMB

1451 [Dow Jones] CIMB says although Evergrande's (3333.HK) October contracted sales of CNY14.26 billion set a monthly record, and "was a surprise to the market... it is paying the price in lower margins."

The house notes that the encouraging sales in October came with lower ASP (5%-10% price cuts for a broader base of projects) that should, to some extent, erode margins;

It hence cuts FY12-14 EPS forecasts, leading to a lower target price of HK$4.25 vs HK$4.70 previously.

"We maintain Trading Buy call in light of a possible laggard catch-up amid the sector rally." Evergrande rallies 6.2% to HK$3.77 on a hefty volume of HK$689.9 million vs HK$250.5 million all of Tuesday.

Source: Dow Jones & Company, Inc.

[winston]

not vested

EVERGRANDE (03333.HK)'s contracted sales target up 25% in 2013
2013-01-14

EVERGRANDE (03333.HK) announced the Company and its subsidiaries' contracted sales target for the full year of 2013 will be RMB100 billion, with an increase of 25.0% from the Group’s contracted sales target of RMB80 billion in 2012.

Source: AAStocks Financial News

[winston]

not vested

EVERGRANDE (03333.HK) raises $4.35B by share placing with 6.5% discount

EVERGRANDE (03333.HK) announced to place 1 billion shares on top-up basis at a placing price of $4.35, representing 6.5% discount to the closing price of $4.65 on 16 January.

The placing shares represent 6.7% of issued share capital and 6.2% of enlarged share capital.

The proceed will be used as debt repayment and general working capital.


Source: AAStocks Financial News

[behappyalways]

China developer Evergrande classifies debt as equity, cuts leverage
http://www.cnbc.com/id/102579628

[behappyalways]

(If the buyer ask for a refund and got it, then the initial payment is an interest free loan)

Homebuyers purchasing newly built homes in China typically pay for the apartment before the property is built, and then move in a year or so later after the project is completed.

What Developer’s Refund Offer Says About China’s Property Woes
http://blogs.wsj.com/chinarealtime/2015 ... erty-woes/

[behappyalways]

Closer Look: Indebted Evergrande Pledges Full Refund Option
http://english.caixin.com/2015-04-17/100801254.html

[behappyalways]

(Who is right? )

“There’s clearly a retreat right now,” said Toni Ho, a Hong Kong-based analyst at RHB OSK Securities Hong Kong Ltd. “I’m not ruling out another rally if there’s another spurt of interest in the property sector. But if looking at the fundamentals, I would avoid this stock.” He has a 12-month target price of HK$2.50.


Still, some brokerages are confident Evergrande has room to rise. UOB-Kay Hian Holdings Ltd. initiated coverage on the stock with a buy recommendation and a target price of HK$10.55. The developer’s sales outlook is positive as it takes measures to clear unsold properties and its diversification plans are developing rapidly, analysts led by Frank Xu said.

Evergrande Bears Converging as Chinese Investors Flee Stock
http://www.bloomberg.com/news/articles/ ... ndon-stock

[winston]

not vested

Evergrande Real Estate (3333 HK)

Evergrande Real Estate (3333 HK) is one of the leading property developers in China, ranked number 4 in terms of sales amount.

The group has strengthened its footprint in first and second tier cities while accelerated the destocking of inventory in third and fourth tier cities.

It is expected to benefit from the recovery of property market, leading to sales improvement and margins expansion.

Also, its other fast-growing business in fast moving consumer goods, media and sports may be spun off to unlock value.

Source: UOBKH

[behappyalways]

Evergrande Said to Hire Banks for $600 Million Share-Sale Plan
http://www.bloomberg.com/news/articles/ ... -sale-plan

[behappyalways]

Evergrande Raises $593 Million in Offer Priced Below Range
http://www.bloomberg.com/news/articles/ ... elow-range