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06098 CG SERVICES

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6.930
+0.030+0.43%

Market Closed Apr 30 16:08 CST

23.17BMarket Cap11.87P/E (TTM)

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CG SERVICES: 2024 ANNUAL REPORT
HKEXApr 24 07:16 ET · Announcements
Country Garden Secures Key Bondholder Group Support for Offshore Debt Overhaul
The Edge MarketsApr 10 23:30 ET
Hong Kong stocks are experiencing unusual movements | Property management stocks are warming up today. The cash level in the property management Industry continues to rise. Institutions are Bullish on the continuous growth and dividend attributes of the i
Property management stocks rebounded today. As of the time of reporting, CHINA RES MIXC (01209) is up 4.17%, priced at 34.95 HKD; YONGSHENG SERVICES (01995) is up 3.57%, priced at 1.74 HKD; SUNAC SERVICES (01516) is up 3.21%, priced at 1.61 HKD; CG SERVICES (06098) is up 1.97%, priced at 6.72 HKD.
Zhitong FinanceApr 9 02:23 ET
[Brokerage Focus] CITIC SEC expects that the Property Service industry will encounter three major opportunities in 2025.
Jinguo Financial News | CITIC SEC believes that the Property Service Industry will迎来three major opportunities in 2025. First, the price mechanism is gradually being rationalized, pushing for a policy turning point that promotes quality services at competitive prices. It is expected that the current difficulties in collections may ease, and companies providing good services for quality properties will be more encouraged by policies; secondly, a turning point in enterprise operation quality. The bank expects that by 2025, the performance contribution of cyclical businesses (serving developers) to the Sector will drop to nearly zero, with the accrual of goodwill and receivables impairment peaking, leading to an expected performance growth rate of 9.7% in the Sector, with sustainable profitability expected to improve significantly; finally, companies will continue to increase Cash.
Jingu Financial NewsApr 8 20:39 ET
CITIC SEC: Quality and price matching may become a direction encouraged by policy. The property Sector has significant upward elasticity in the future.
The bank suggests that investors pay attention to the policy turning point in the Property Service Sector.
Zhitong FinanceApr 2 20:31 ET
DBS: Maintain CG SERVICES (06098) "Hold" rating, Target Price raised to 7 HKD.
The bank has raised the profit forecast for CG SERVICES for the next two years by 10% to reflect the adjusted revenue and gross profit forecasts.
Zhitong FinanceMar 31 05:52 ET

Comments

Dec 18, 2024 18:39

Good but still not out of the woods.

CHINA NOV AVERAGE HOME PRICES FELL 0.2% ON MONTH VS. 0.51% DROP IN OCT, AVERAGE HOME PRICES FELL 6.1% ON YEAR VS. 6.2% DROP.
MORE CITIES SAW HOUSING PRICE M/M INCREASES. HOME PRICES FELL ON MONTH IN 49 OF 70 CITIES VS. 63, FELL ON YEAR IN 67 OF 70 CITIES VS. 67 IN OCT.
$COUNTRY GARDEN (02007.HK)$ $CG SERVICES (06098.HK)$ $AGILE GROUP (03383.HK)$ $AGILE GROUP HOLDIN (AGPYY.US)$ $LONGFOR GROUP HLDG (LGFRY.US)$ $LONGFOR GROUP (00960.HK)$ $EVERGRANDE (03333.HK)$

2

Dec 5, 2024 09:53

COUNTRY GARDEN Nov Contracted Sales Plunge ~51% YoY

Country Garden November property sales drop worsens to 51% from down 31% in October.
Not indicative of China’s overall property market IMHO. Country Garden’s reputation is shot and few believe they can meet their obligations to buyers.
$COUNTRY GARDEN (02007.HK)$ $CG SERVICES (06098.HK)$ $AGILE GROUP (03383.HK)$ $AGILE GROUP HOLDIN (AGPYY.US)$ $EVERGRANDE (03333.HK)$ $Hang Seng H-Share Index ETF (02828.HK)$

7

Oct 18, 2024 15:47

1⃣ China's Jan-Sept realestate development investment fell by 10.1% y/y to 7.87 trillion yuan.
2⃣Residential housing sales areas decline narrowed to -17.1% y/y at 703 million square meters, and the total sales down by 22.7% y/y to 6.89 trillion yuan. (narrowed)
3⃣Developing funds in place down 20.0% y/y(narrowed) to 7.89 trillion yuan.
4️⃣Sentiment 92.41
$LONGFOR GROUP (00960.HK)$ $CG SERVICES (06098.HK)$ $AGILE GROUP (03383.HK)$ $EVERGRANDE (03333.HK)$

+1

Officials say the real estate market is bottoming out. What’s your view on China's property market?

6

Oct 18, 2024 11:12

The consistent MoM decline in property prices is why Beijing is pushing supportive policies.

I’d be worried if the rate of decline does not significantly lessen in October given the reports of a more active buyer market since the National Day holiday.
ALL CHINA SEPT NEW HOME PRICES -0.7% M/M (AUG -0.7%), -5.8% Y/Y (AUG -5.3%). STABILIZED M/M, WITH Y/Y DECLINES WIDENING.
HOME PRICES FELL M/M IN 66 OF 70 CITIES VS. 67 IN AUG, FELL Y/Y IN 68 CITIES, VS 68 IN AUG.
$CG SERVICES (06098.HK)$ $LONGFOR GROUP (00960.HK)$ $EVERGRANDE (03333.HK)$ $AGILE GROUP (03383.HK)$

Officials say the real estate market is bottoming out. What’s your view on China's property market?

2

2

Oct 17, 2024 20:24

When this property “white list” initiative was launched at the start of the year, it was being downplayed as a failed policy by mainstream media.

Today, it appears it has been successful based on the amount of approved loans made - DOUBLE the original budget. And now, Beijing is boosting that original budget by almost 3X to 4 trillion yuan.
Seems as if a recovery was already starting to take form underneath the surface. Now, they are addressing the demand side with lower mortgage rates, easier ...

When this property “white list” initiative was launched at the start of the year, it was being downplayed as a failed policy by mainstream media.

When this property “white list” initiative was launched at the start of the year, it was being downplayed as a failed policy by mainstream media.

Officials say the real estate market is bottoming out. What’s your view on China's property market?

3

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