China Evergrande Group (formerly: Evergrande Real Estate Group) (3333.HK)

[BlueKelah]

Old news, but shows boss has no qualms breaking laws or walk the thin line between legal and illegal.

Treasurer Joe Hockey announces forced sale of Point Piper mansion Villa del Mare

[Treasurer Joe Hockey announced the forced sale of the $39 million Point Piper mansion Villa del Mare, purchased by one of China’s richest men in November, because it was sold in contravention to the existing foreign ownership laws.]

[soros]

This is what I said in the thread headed "Australia Property" under post 697 :

" Foreigners are only allowed to invest in new build property in Australia for the rental income.

Foreigners are not allowed to invest in second hand ( used ) residential property ".

[cyclone]

Chinese Developers Surge in Hong Kong as Evergrande Hits Record

by Jeanny Yu
May 29, 2017, 10:54 AM GMT+8 Updaed on May 29, 2017, 1:41 PM GMT+8

Chinese developers extended Asia’s biggest rally this year, with China Evergrande Group surging to a record in Hong Kong.

Evergrande soared 20 percent as of 1:31 p.m. local time, while Country Garden Holdings Co. and Sunac China Holdings Ltd. gained more than 8 percent. Lianhua Supermarket Holdings Co. rallied 24 percent after Alibaba Group Holding Ltd. agreed to buy a stake in the company. The Hang Seng Index added 0.1 percent, while the MSCI China Index rose 0.1 percent toward its highest level since July 2015. Mainland markets are closed for holidays till Wednesday.

Shares of Evergrande, the world’s most indebted developer, have more than tripled this year, topping all others on the MSCI Asia Pacific Index. While the stock isn’t alone among Chinese developers in doing well, with rivals Country Garden and Sunac China being the next best performing in the region, the acceleration in gains is raising questions. JPMorgan Chase & Co. said in a note received Friday that Evergrande’s business isn’t sustainable.

More details in https://www.bloomberg.com/news/articles/...its-record

[soros]

China Evergrande ( 03333.HK) closed at HK $21 on friday. ( at 5.8 x Book value. )

Its overvalued, and really OTT - but that does not seem to stop buyers.

[cyclone]

China's Most-Shorted Developers of 2017 May Foil Bears Yet Again

By Mark Cranfield
March 9, 2018, 1:00 AM GMT+8

Two Chinese developers that emerged as favorite targets for short-sellers last year are estimating profits jumped amid record home sales, buoying their shares in recent days.

China Evergrande Group forecast full-year net profit soared between 300 percent to 400 percent to a record high in a Thursday filing, citing the redemption of perpetual securities and fewer expenses -- two factors that had eroded profit in 2016. Earlier this week, Sunac China Holdings Ltd. said net profit probably jumped more than 240 percent, on revenue that almost doubled and higher gross margins.

The two leading developers, whose rising debt levels attracted bearish speculators last year, benefited from China’s red-hot home market that defied stringent property curbs. China’s home sales rose 7 percent to a record last year, while the tighter fundraising environment gave larger developers an edge over smaller rivals.

More details in https://www.bloomberg.com/news/articles/...-yet-again

[soros]

The 52 weeks price range for Evergrande extends from HK$6 low to HK$32 high. Currently the shares stand around $24 level and historic PE = 60 and market Cap at $ 322.8 Bil.

If the latest profit is 4 times last year's figure, the prospective PE is 15 which is not cheap.

No, its not a share for valuebuddies to enter now.

[Life is a game]

Hi Soros how about 00127 which holds a lot of evergrande?

Sent from my SM-N9005 using Tapatalk

[soros]

What can I say about 00127 ? I think the bosses may often go to the same canteen for chicken lunch and discuss value investing..

From what I remember, Evergrande paid $12.5 Bil , a very high price in Nov 2015 to buy the Mass Mutual Building, Wanchai Hong Kong , from Chinese Estates 00127.

http://www.ejinsight.com/20151113-hong-k...le-prices/

The proceeds from property sales were distributed as dividend by 00127 and JL has 75 % of the company.

So I think 00127 and JL's wife can afford to buy a lot of shares in Evergrande last year.

But now the Evergrande shares are high up in price ( $24.80 = 6.82 x book value ) and not at the right level for buying by valuebuddies ( my view only )

[cyclone]

When bricks and mortar meet hi-tech: Evergrande’s US$15.9billion fare on the technology bandwagon

Zheng Yangpeng
PUBLISHED : Monday, 09 April, 2018, 2:03pm
UPDATED : Monday, 09 April, 2018, 3:01pm

China Evergrande Group, one of China’s largest developers, announced a 100 billion yuan (US$15.9 billion) foray into the country’s hi-tech industry, echoing President Xi Jinping’s call to make China a global tech powerhouse.

The company said it would invest over 10 years in biotech, aeronautics and astronautics, integrated circuit, quantum technology and artificial intelligence. The announcement was made on Monday during an event in Huairou, a county of Beijing, in cooperation with the Chinese Academy of Sciences (CAS).

Evergrande chairman Hui Ka-yan said during the ceremony that his company will team up with CAS to build three bases for advanced sciences and technology involving research, incubation and applications.

“The three bases will provide world-class facilities and support for scientists and we will make them world-class innovation centres, a hub for global top scientists,” said Hui.

More details in http://www.scmp.com/business/companies/a...or-over-10

[bmann025]

Once (Dec 2016) described by GMT as follows:
Failed projects, abandoned hotels, empty car parking spaces, deserted shops…the list goes on. Evergrande adopted a “build it and they will come” business model – except that they didn’t come. '

Did 'they' finally come?

http://www.hkexnews.hk/listedco/listcone...806465.pdf