Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Seazen Group Limited
  6. News
  7. Summary
    1030   KYG7956A1094

SEAZEN GROUP LIMITED

(1030)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

China developer Seazen issues apology after chairman arrested

07/05/2019 | 07:17am EDT
FILE PHOTO: Future Land Development Holdings Ltd Chairman Wang Zhenhua attends an event marking the company's 25th founding anniversary in Changzhou, Jiangsu

BEIJING (Reuters) - China's Seazen Holdings Co Ltd issued an apology on Friday, days after media reported its chairman was arrested for suspected child molestation, news of which sent shares in the property developer and its parent firm, Future Land, plunging.

Police in the city of Shanghai detained Wang Zhenhua, 57, on Monday on suspicion of molesting a minor girl, according to Chinese state broadcaster CCTV.

"First, to all the victims who have been caught up in this storm, for the huge pain that the victim's family has suffered, we are upset and deeply apologise," the company said in a statement issued late on Friday.

Police, in a statement posted by CCTV, referred only to one victim.

"Seazen will fully support and cooperate with the relevant departments to deal with the issue," the company said

Police issued a statement on Wednesday saying two suspects including a person identified only as Wang, 57, and a woman surnamed Zhou, 49, who is alleged to have brought a girl to a hotel, had been detained on child molestation charges.

On the same day, Seazen's parent firm, Future Land Development Holdings Ltd, said police had detained Wang, who is also that firm's chairman, for "personal reasons".

Fitch Ratings said on Friday it had placed the credit ratings of both companies on a "negative" ratings watch, citing Wang's arrest.

Future Land is China's eighth-largest property developer by sales, and its Hong Kong-listed shares have fallen 36.5% over the past three days, while shares in Seazen have dropped 19% in Shanghai over the same period.

The case has been covered prominently in Chinese media and widely discussed on social media.

Wang's 31-year old son, Wang Xiaosong, was appointed chairman of both firms after his father was detained. Seazen reiterated on Friday that its business would operate as normal.

(Reporting by Huizhong Wu and Min Zhang; Editing by Tony Munroe)


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
CF INDUSTRIES HOLDINGS, INC. -1.06% 59.785 Delayed Quote.56.08%
LAND CO., LTD. 8.33% 13 End-of-day quote.62.50%
LETS HOLDINGS GROUP CO., LTD. -0.32% 6.32 End-of-day quote.-18.77%
LOOK HOLDINGS INCORPORATED -1.43% 1374 End-of-day quote.43.57%
SEAZEN GROUP LIMITED 5.24% 6.43 End-of-day quote.-0.31%
SEAZEN HOLDINGS CO., LTD 6.23% 36.65 End-of-day quote.5.23%
All news about SEAZEN GROUP LIMITED
10/17SEAZEN : September Contracted Property Sales Hit Nearly $3 Billion
MT
10/15Seazen Group Limited Provides Land Acquisition Information
CI
10/15Seazen Group Limited Announces Unaudited Contracted Sales Results for the Month and Yea..
CI
10/12China's property sector stalked by Evergrande default fears
RE
09/23Future Diamond Files for Singapore Listing of $200 Million Bonds
MT
09/21REDSUN PROPERTIES : Files for Hong Kong Bourse Listing of $200 Million 9.5% Green Bonds Du..
MT
09/14REDSUN PROPERTIES : to Issue $200 Million of Green Bonds for Debt Payments
MT
09/06SEAZEN : Logs Nearly $3 Billion Property Sales in August
MT
09/03Seazen Group Limited Reports Unaudited Sales Results for the Month and Year to Date End..
CI
08/27Seazen Group Limited Reports Earnings Results for the Half Year Ended June 30, 2021
CI
More news
Analyst Recommendations on SEAZEN GROUP LIMITED
More recommendations
Financials
Sales 2021 186 B 29 049 M 29 049 M
Net income 2021 10 755 M 1 682 M 1 682 M
Net Debt 2021 60 007 M 9 387 M 9 387 M
P/E ratio 2021 3,81x
Yield 2021 7,53%
Capitalization 39 930 M 5 136 M 6 246 M
EV / Sales 2021 0,54x
EV / Sales 2022 0,40x
Nbr of Employees 30 490
Free-Float 30,5%
Chart SEAZEN GROUP LIMITED
Duration : Period :
Seazen Group Limited Technical Analysis Chart | 1030 | KYG7956A1094 | MarketScreener
Technical analysis trends SEAZEN GROUP LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Last Close Price 6,43 CNY
Average target price 7,91 CNY
Spread / Average Target 23,0%
EPS Revisions
Managers and Directors
Xiao Ping Lü Chief Executive Officer & Executive Director
Zhong Ming Lu Chief Financial Officer & Executive Director
Xiao Song Wang Chairman
Hua Kang Chen Independent Non-Executive Director
Zeng Jin Zhu Independent Non-Executive Director