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Market Chatter: Hong Kong Rental Property Prices Close to Record High in August
[Brokerage Focus] Orient Securities maintains a "shareholding" rating on Shimao Services (00873), indicating stable development of basic services and some progress in cost control.
Jingu Financial News | Orient issued a research report stating that Shimao Services (00873) released its mid-term performance announcement for 2024, achieving an income of 4.03 billion yuan in the first half of the year, a year-on-year decline of 1.6%, and a net income attributable to the parent of 0.18 billion yuan, a year-on-year increase of 18.9%. The bank said that the company's basic property service revenue reached 2.76 billion yuan in H1 24, a year-on-year increase of 5.7%, mainly benefiting from the group's active market expansion and the increase in managed construction area through third-party bidding and external expansion. The company actively expands the market, and in the first half of the year, the company added a contract area of 17.7 million square meters for third-party external expansion, and added external expansion through third-party bidding.
Shimao Services (00873.HK): Consolidating the foundation of high-quality services and insisting on quality scale growth.
In the past, the performance of the property management sector in the capital markets has been significantly negatively affected by factors such as the deep adjustment of the real estate industry, particularly the stimulus caused by the defaults of real estate companies, and market confidence has been difficult to be optimistic. Now, this situation is coming to an end. With a series of policies to support the stable and healthy development of the real estate industry, including stabilizing demand, reducing inventory, and ensuring delivery, as well as the continuous clearing of the market, the industry's fundamentals have gradually improved, which in turn has led to a recovery in the valuation expectations of the property management sector. At the moment, during the Hong Kong stock exchange's earnings season, Shimao Services has just released its mid-term performance, which can be used as an observation point for the industry and ...
Property management stocks generally rose, with Greentown Services (02869) up 3.67%. Institutions point out that the core business of mid-term property service companies is maintaining growth.
Jingu financial news | Property management stocks generally rose, Rongxin service (02207) rose by 5.38%, Wanwu Cloud (02602) rose by 4.61%, Greentown service (02869) rose by 3.67%, Jianfa property (02156), Poly property service (06049), Shimao services (00873), etc. rose with it. On the news front, citic securities stated that in the 2024 interim report, the core business of property service enterprises maintained growth, quality improvement in external development, and stable efficiency, reflecting a quasi-public utility attribute. The most core factor affecting the valuation of the enterprise remains corporate governance issues. Independence risk is relatively small.
Shimao Services Announces Board Restructuring
Hong Kong stocks rise sharply | Shimao Services (00873) is up nearly 6%, with a year-on-year increase in net profit of 18.9% in the first half of the year. The company's project type structure is reasonable.
Shimao Services (00873) is now up nearly 6%, as of the time of drafting, it is up 5.88%, at HKD 0.72.
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