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Market Chatter: Hong Kong Rental Property Prices Close to Record High in August
How much you earn is how much you distribute? Hong Kong stock property sector "surprisingly" offers full dividends, with many companies distributing more than 50% of their interim dividends.
①How will the large dividends from Hong Kong property stocks affect the market? ②Which companies have relatively strong short-term performance in the property sector?
Hong Kong stock market fluctuation | Jingfa Property (01354) rose more than 6%, continuing to refresh its high, up 1.4 times from the IPO price, with a 20% increase in net profit in the first half of the year.
Evergrande Property Services Group (01354) surged more than 6%, hitting a new high of 18.02 Hong Kong dollars, surpassing the IPO price of 7.5 Hong Kong dollars by more than 1.4 times. As of the time of writing, it is up 6.59%, trading at 17.8 Hong Kong dollars, with a turnover of 1.1097 million Hong Kong dollars.
HK stocks surged | Jingfa Property (01354) rose more than 14%, breaking through the peak. Net profit in the first half of the year increased by 20% year-on-year, and urban service income increased by 25%.
Evergrande Property Services Group (01354) surged over 14% in the afternoon, reaching a new high of 17.64 Hong Kong dollars since its market debut. As of the time of writing, it has risen by 12.86% to 17.38 Hong Kong dollars, with a turnover of 1.5038 million Hong Kong dollars.
Hong Kong stocks are volatile. Jianfa Property rose more than 11% and approached the previous high. Mid-term profit increased by 23% year-on-year.
On August 27th, Egoo Property (1354.HK) surged more than 11% during trading, reaching HKD 17.12, approaching its highest level since listing. The company announced last night that its total revenue for the first half of the year reached CNY 0.463 billion, a year-on-year increase of 18.57%; the gross margin was CNY 69.65 million, a year-on-year increase of 25%, with a gross margin rate of 15.03%; the net profit for the period was CNY 31 million, a year-on-year increase of 22.95%. As of June 30, 2024, the total contracted construction area of the group was approximately 16.35 million square meters, an increase of 9.36% compared to June 30, 2023.
Everbright Properties (01354.HK) half-year net profit rose by 20% to 29.673 million RMB and no dividend was paid.
Evergrande Property (01354.HK) announced its interim results for the period ending June this year, with revenue of 0.463 billion yuan (same below), an increase of 18.6% year-on-year. Net profit was 29.673 million yuan, a 20% increase year-on-year; earnings per share were 0.59 yuan. No dividend is paid.
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