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CHINA EVERGRANDE GROUP

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Tech, financials drag Hang Seng lower on Fed jitters and Ukraine anxiety

01/25/2022 | 03:48am EDT

SHANGHAI, Jan 25 (Reuters) - Hong Kong shares ended lower on Tuesday, dragged down by tech giants and financial firms on concerns that the U.S. Federal Reserve would tighten policies and rising geopolitical tensions related to Ukraine.

** The Hang Seng index fell 1.7%, to 24,243.61, while the China Enterprises index lost 1.8%, to 8,503.35 points.

** The Fed will begin its two-day meeting later on Tuesday, and NATO said on Monday it was putting forces on standby and reinforcing eastern Europe with more ships and fighter jets, in what Russia denounced as Western "hysteria" in response to its build-up of troops on the Ukraine border.

** The Hang Seng Tech index slumped 2.7%, with Alibaba Group and Meituan down 1.9% and 3%, respectively.

** The Cyberspace Administration of China launched a month-long "clean cyberspace" campaign, which would target online abuse, "chaos" in celebrity fan groups and "money worship", among other issues.

** The Hang Seng Finance index retreated 1.8%, with insurers AIA Group and Ping An down 3.1% and 5.7%, respectively.

** Healthcare firms plunged 3.7%. Alibaba Health Information Technology Ltd closed down 7% to become the largest percentage decliner on the Hang Seng index.

** Mainland real estate developers listed in Hong Kong closed 1.9% lower amid debt woes in the sector.

** China Evergrande Group dropped 6.5% as the cash-strapped developer sought more time from its offshore bondholders to work on a "comprehensive" and "effective" debt restructuring plan.

** Property developer Shimao Group Holdings pared early gains and ended down 1.3%, after it sold its holdings in a Guangzhou complex to a state-owned partner for 1.84 billion yuan ($290.65 million), following a sale of a commercial land in Shanghai last week. (Reporting by the Shanghai Newsroom; Editing by Shounak Dasgupta)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AIA GROUP LIMITED 4.19% 80.85 Delayed Quote.-1.27%
ALIBABA GROUP HOLDING LIMITED -1.03% 86.79 Delayed Quote.-26.94%
ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED 5.73% 4.43 Delayed Quote.-36.42%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.13% 0.7032 Delayed Quote.-3.01%
BRITISH POUND / US DOLLAR (GBP/USD) 0.19% 1.24866 Delayed Quote.-7.89%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.17% 0.7783 Delayed Quote.-1.43%
CHINA EVERGRANDE GROUP 8.55% 1.65 End-of-day quote.3.77%
EURO / US DOLLAR (EUR/USD) -0.18% 1.056 Delayed Quote.-6.97%
HANG SENG 2.96% 20717.24 Delayed Quote.-14.01%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.59% 0.012844 Delayed Quote.-3.79%
MEITUAN INC. 4.53% 173 Delayed Quote.-26.58%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.38% 0.64048 Delayed Quote.-6.67%
SHIMAO GROUP HOLDINGS LIMITED -2.21% 4.42 Delayed Quote.-13.33%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.46% 6.691 Delayed Quote.5.75%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.00% 61.75 Delayed Quote.-17.11%
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Analyst Recommendations on CHINA EVERGRANDE GROUP
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Financials
Sales 2021 521 B 66 435 M 66 435 M
Net income 2021 12 727 M 1 622 M 1 622 M
Net Debt 2021 497 B 63 262 M 63 262 M
P/E ratio 2021 1,72x
Yield 2021 3,53%
Capitalization 21 787 M 2 776 M 2 776 M
EV / Sales 2021 0,99x
EV / Sales 2022 0,94x
Nbr of Employees 163 119
Free-Float 29,5%
Chart CHINA EVERGRANDE GROUP
Duration : Period :
China Evergrande Group Technical Analysis Chart | 3333 | KYG2119W1069 | MarketScreener
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Last Close Price 1,65 HKD
Average target price 1,89 HKD
Spread / Average Target 14,4%
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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