Evergrande's Share Price Made a Record of 4.08HKD on April 1, Up 11%
BEIJING, April 1, 2014
BEIJING, April 1, 2014 /PRNewswire/ -- On April 1, the share price of
Evergrande soared to HKD 4.08, up 11.48%, and the turnover was as high as 264
million shares with trading amount up to HKD 1.035 billion. An original report
by Sina Leju follows:
As Evergrade's annual performance in 2013 published on March 31 showed, its
net core profit totaled RMB 10.3 billion, up 66% and far beyond market
expectations. In addition, the total assets of Evergrande was RMB 348.15
billion, up 45.7% year-on-year; operating income was RMB 93.67 billion, up
43.5% year-on-year; net profit was RMB 13.17 billion, up 49.3% year-on-year;
gross profit rate rose up to 29.5% in 2013 from 27.9% in 2012; the profit rate
of core business rose up to 11% in 2013 from 9.5% in 2012; and the earnings
per share is RMB 0.789, up 28.7% year-on-year.
Owing to Evergrande's great performance in terms of business performance,
profit increase, stable financial status, and regional arrangement, many
investors at home and abroad laid an optimistic view on it.
According to a survey released by Daiwa Institute of Research on April 1,
Evergrade's net core profit totaled RMB 10.3 billion, up 66% and far beyond
market expectations, the Institute will regulate its profit forecast on
Evergrande for this year and next year from 20% to 38%, and also raise up the
target price from RMB 3.8 to RMB 4.6, up 21%. Therefore, Evergrande can be
applied for "buying" rating again.
In the same day, Goldman Sachs also said that, Evergrade's net core profit
totaled RMB 10.3 billion, up 66%, which was more than the expectations of UBS
(19%) and the market (21%). In 2013, Evergrande's sales volume amounted to RMB
93.7 billion, up 44%, which was also beyond the expectations of UBS.
Furthermore, UBS published a report also on April 1 to regulate its profit
forecast on Evergrande for this year and next year to 3% and 4%.
SOURCE Sina Leju
Contact: Zhou Guang Yan, +8618675873345, email@example.com
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