China’s largest residential property_x000D_ developer that capitalizes on urbanization.
Country Garden released its 2019 financial report; Guizhou Liquor Exchange was severely adversely affected by marketing actions and its distribution contract was cancelled; GM will reduce all salaries by 20%; Goldman Sachs and Morgan Stanley were allowed to obtain controlling stakes in joint ventures in China.
"According to the 2019 performance report disclosed by Country Garden, as of December 31, 2019, the number of employees in Country Garden dropped to 101,800. In Country Garden's 2018 annual report, the number of employees was 131,400. In just one year, Nearly 30,000 employees have been "optimized" to leave their posts. For the year ended December 31, 2019, the Group, together with its joint ventures and associates, achieved a total contracted sales amount of approximately RMB 552.2 billion attributable to shareholders 'equity and a contracted sales area of approximately 62.37 million square meters attributable to shareholders' equity Increased by 10.0% and 15.2%, respectively. "
On July 1, 2018, Shen Gang, who joined Country Garden as the president of Bozhilin Robotics Co., Ltd., has left his post for less than one year. What is the reason for the robotics road in Country Garden? Where do we go from here? This article discusses with you.
It is estimated that the company's EPS for 20/21/22 will be RMB 2.11 / 2.54 / 2.92, corresponding to a dynamic P / E ratio of 4.3 / 3.6 / 3.1. The company is the leading real estate company in the global real estate industry. It has the ability to smooth local risks and has a relatively stable operation. It gives the company a 5x PE valuation in 2020, corresponding to a target price of HK $ 11.53.
The net asset value per share at the end of 2020 is forecasted at HK $ 27.64 per share, so we have reduced our target price from HK $ 16.49 to HK $ 15.20 based on a 45% discount to NAV.