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2019 ANNUAL RESULTS ANNOUNCEMENT
SUMMARY OF RESULTS
For the year ended 31 December 2019
• Contracted sales amounted to approximately RMB60,350 million, representing an
increase of approximately 47.1% as compared with the corresponding period in 2018.
• Revenue amounted to approximately RMB26,042 million, representing an increase of
approximately 32.9% as compared with the corresponding period in 2018.
• Rental income and income from Property Management Services amounted to
approximately RMB2,813 million, representing an increase of approximately 25.1% as
compared with the corresponding period in 2018.
• Profit for the year was approximately RMB6,018 million, representing an increase of
approximately 65.0% as compared with the corresponding period in 2018.
• Profit attributable to the owners of the Company was approximately RMB4,041 million,
representing an increase of approximately 42.4% as compared with the corresponding
period in 2018.
• Core earnings amounted to approximately RMB4,390 million, representing an increase
of approximately 70.2% as compared with the corresponding period in 2018.
• Core earnings attributable to the owners of the Company was approximately RMB2,680
million, representing an increase of approximately 45.3% as compared with the
corresponding period in 2018.
• The Board recommended the payment of a Final Dividend of HK$27 cents per ordinary
share for the year ended 31 December 2019, subject to approval at the Annual General
Meeting of the shareholders of the Company. In addition to the Final Dividend, the
Board further declared a Special Dividend of HK$4 cents per ordinary share to mark
the 10th anniversary of the Company’s listing and to reward the shareholders of the
Company for their continued support. Together with the interim dividend of HK$9 cents
per ordinary share for the six months ended 30 June 2019, the total dividend for the year
amounted to HK$40 cents per ordinary share, representing an increase of approximately
33% as compared with the corresponding period in 2018.
The shares closed on 9 Mar 2020 , at $5.08 , and at 40 cts dividend gives 8% yield.
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Powerlong Real Estate was included in the “Hang Seng
Composite LargeCap & MidCap Index” and “Hang Seng
Stock Connect Hong Kong Index”
On February 21, Hang Seng Index Company Limited announced the results of its
review of the Hang Seng Family of Indexes for the quarter ended 31 December
2019. Powerlong Real Estate Holdings Limited (stock code: HK.1238) was
officially included in the "Hang Seng Composite LargeCap and MidCap Index" and
" The "Hang Seng Stock Connect Hong Kong Index" will come into effect on
March 9.
The successful inclusion of Powerlong Real Estate in the above indexes fully
reflects the positive recognition of Company's strength, various business indicators
and corporate governance by investors and the capital market. After the indexes
become effective, Powerlong is expected to be included in the list of eligible
securities for southbound trading under Shanghai-Hong Kong Stock Connect,
which will facilitate more domestic investors to trade through domestic securities
accounts, which will further attract more long-term and high-quality investors to
broaden shareholders Foundation, which improve liquidity.
Copied from Powerlong monthly newsletter ( Feb 2020 ) .
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Goldman Sachs ( Brokers ) reported :
The mall business restructuring of POWERLONG (01238.HK) Short selling $2.57M; Ratio 13.372% and POWERLONG CM (09909.HK) Short selling $13.31M; Ratio 14.458% was faster-than-expected, according to Goldman Sachs.
POWERLONG's FY21-22 EPS forecasts were raised by 8% and 15%, while its target was lifted by 13% to $8.5.
POWERLONG CM's FY21-22 EPS assumptions were hiked by 3% and 5%, while its target was ramped up by 23% to $38.3.
Reported on aastocks website on 8 Sept 2020.
I believe the the target price for Powerlong ( 1238) at $8.50 FY 21-22 is under rated .and OK for valuebuddies.
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Powerlong announced its 9 months contracted sales record on 8 Oct 2020
" The total contracted sales value (including contracted sales value by joint ventures and associated companies) and total contracted sales area of the Group for the nine months ended 30 September 2020 amounted to approximately RMB54,323 million and 3,540,952 square meters, respectively (as compared to RMB45,130 million and 2,783,787 square meters for the nine months ended 30 September 2019), representing a year-on-year total contracted sales value increase of approximately 20.4% and a year-on-year total contracted sales area increase of approximately 27.2%."
The 9 months contracted sales value is up by 20.4% compared to same period last year and this increase is a positive sign for value investors. The current share price is still 30% below NAV .
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Powerlong announced its 12 months contract sales record on 8 Jan 2021:
" The total contracted sales value (including contracted sales value by joint ventures and associated companies) and total contracted sales area of the Group for the twelve months ended 31 December 2020 amounted to approximately RMB81,551 million and 5,327,291 square meters, respectively (as compared to RMB60,350 million and 3,767,519 square meters for the twelve months ended 31 December 2019), representing a year-on-year total contracted sales value increase of approximately 35.1% and a year-on-year total contracted sales area increase of approximately 41.4%."
The above-mentioned sales data is unaudited and is based on preliminary internal information of the Group, which may differ from figures to be disclosed in the audited or unaudited consolidated financial statements to be published by the Company on an annual or half-yearly basis due to various uncertainties during the process of collating such sales information.
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05-03-2021, 12:03 PM
(This post was last modified: 05-03-2021, 12:07 PM by soros.)
POWERLONG (01238.HK) announced annual results ended December 2020. Net profit amounted to RMB6.093 billion, up 50.8% yearly.
EPS equaled 147.1 fen. Final
Final Dividend is HK33 cents. Total dividend for 2020 = 45 cents.
Citi ( Brokers ) have pitched the target share price at $8.86 ( posted on 5 March 2021 by aastocks website ).
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Reported by aastocks website on 8 Mar 2021:
POWERLONG (01238.HK) announced that the total contracted sales value and total contracted sales area of the Group for the first two months of 2021 amounted to RMB15.101 billion and 978,000 square meters, respectively, representing a year-on-year increase of 213.2% and 219.5%.
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Some brokers have placed a BUY rating for Powerlong and declared their target price :
Citi : HK$ 8.86
Zonda Securities s : HK$ 8.20
Southwest Secs : HK$ 8.02
Goldman Sachs : HK$ 8.60
UOB Kay Hian : HK$ 8.10
Above info copied from company newsletter ( issued 8 Mar 2021)
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23-04-2021, 10:13 AM
(This post was last modified: 23-04-2021, 10:48 AM by soros.)
aastocks website today (23 Apr2021) shows UBS places TP for Powerlong at $10.40 ( this corresponds to PE Ratio = 6.)
Disclaimer: AAStocks Financial News strives to provide accurate and reliable information on this site; yet, <AAStocks Financial News> makes no guarantees as to the accuracy, completeness, timeliness or correctness of the information displayed on this site.
AAStocks Financial News is not liable for any of your losses.
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The unaudited operating statistics for April 2021 stated :
The total contracted sales value (including contracted sales value by joint ventures and associated companies) and total contracted sales area of the Group for the four months ended 30 April 2021 amounted to approximately RMB33,119 million and 2,139,350 square meters, respectively (as compared to RMB13,856 million and 893,289 square meters for the four months ended 30 April 2020), representing a year-on-year total contracted sales value increase of approximately 139.0% and a year-on-year total contracted sales area increase of approximately 139.5%.
The turnover during first four months of last year was down, due to the effects of infection from covidvirus. The increase in turnover this year of 139% shows recovery of business performance.
The share price was poised to rise yesterday but didn't because this good news was not released to the market until this morning.
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