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    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

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China's blue-chips fall as Evergrande woes weigh on property, financials

09/14/2021 | 01:12am EDT

SHANGHAI, Sept 14 (Reuters) - Chinese blue-chips fell on Monday, dragged by real estate and financials after the country's most-indebted developer warned of a risk of a cross-default.

The CSI300 index fell 0.3% to 4,975.68 at the end of the morning session, while the Shanghai Composite Index was unchanged at 3,715.12.

The Hang Seng index dropped 0.1% to 25,789.55. The Hong Kong China Enterprises Index lost 0.4% to 9,202.87.

** The real estate sub-index dropped 1.9%, after cash-strapped China Evergrande Group warned on Tuesday of a risk of cross-default as property sales continued to plunge.

** The financials sub-index went down 1.3%, while the infrastructure sub-index fell 2%.

** A sub-index tracking new energy vehicles surged 4.8% before slipping 0.8% in previous session.

** China said on Monday the government will encourage consolidation of the overcrowded electric vehicle industry, while would also improve its charging network and develop EV sales in rural markets.

** The new energy sub-index was up 2.5%.

** In Hong Kong, the healthcare sub-index and the energy sub-index gained 2.1% and 1.4%, respectively.

** PetroChina Co extended its gains from the previous session and jumped 5.3% to be the biggest daily gainer on the Hang Seng Index as oil prices remained strong.

** China Evergrande Group plunged nearly 10% to its lowest in more than six years.

** China Evergrande New Energy Vehicle Group and Evergrande Property Services Group tumbled 22.7% and 8.3%, respectively.

(Reporting by Shanghai Newsroom; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP -4.12% 2.56 End-of-day quote.-82.82%
CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED -6.75% 3.73 End-of-day quote.-87.65%
EVERGRANDE PROPERTY SERVICES GROUP LIMITED -5.97% 4.25 End-of-day quote.-52.46%
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Analyst Recommendations on CHINA EVERGRANDE GROUP
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Financials
Sales 2021 547 B 70 369 M 70 369 M
Net income 2021 2 419 M 311 M 311 M
Net Debt 2021 354 B 45 458 M 45 458 M
P/E ratio 2021 14,0x
Yield 2021 1,48%
Capitalization 33 795 M 4 346 M 4 345 M
EV / Sales 2021 0,71x
EV / Sales 2022 0,47x
Nbr of Employees 163 119
Free-Float 18,6%
Chart CHINA EVERGRANDE GROUP
Duration : Period :
China Evergrande Group Technical Analysis Chart | 3333 | KYG2119W1069 | MarketScreener
Technical analysis trends CHINA EVERGRANDE GROUP
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Last Close Price 2,56 HKD
Average target price 11,13 HKD
Spread / Average Target 335%
EPS Revisions
Managers and Directors
Hai Jun Xia Vice Chairman & Chief Executive Officer
Shou Ming Shi President
Da Rong Pan Chief Financial Officer & Executive Director
Ka Yan Hui Chairman
Dong Feng Chen Head-Information
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