[Hong Kong Stock Connect] Ping An Securities maintains a "recommended" rating for greentown mgmt (09979), citing short-term pressure from real estate adjustments and increased competition.

Jingwu Finance News | Ping An Securities released a research report, Greentown Management Holdings (09979) published its 2024 interim report, achieving a revenue of 1.67 billion yuan in 2024H1, a year-on-year increase of 7.8%; net income attributable to shareholders of 0.5 billion yuan, a year-on-year increase of 5.8%. The bank pointed out that as of 2024H1, the company's contracted construction area and under-construction area were 0.12 billion and 0.053 billion square meters respectively. According to data from the China Index Research Institute, Greentown Management ranked first in the industry with a new signing scale of 17.46 million square meters in 2024H1, maintaining an absolute leading position in scale. However, with the continuous adjustment of the real estate industry, the commissioning party has temporarily postponed land acquisition and construction and the collection of sales proceeds.

金吾財訊Aug 26 21:20 ET

Hong Kong stock concept tracking | Over 80 cities support state-owned enterprises and others to acquire existing houses, institutions are bullish on investment opportunities related to the "good housing" industry (concept stocks attached)

As of now, more than 80 cities have announced their support for state-owned platform enterprises to acquire commodity housing for the purpose of affordable housing, resettlement housing, talent housing, and turnover housing.

Zhitong FinanceAug 25 20:54 ET

Greentown Management: Higher Contribution From Commercial Project Management Business Supported Results >9979.HK

Dow JonesAug 25 02:38 ET

Greentown Mgmt (09979.HK): The net income attributable to the company's shareholders in the first half of the year reached 0.501 billion yuan, a year-on-year growth of 5.8%.

On August 23, Greentown Management Holdings (09979.HK) issued an announcement. For the six months ending on June 30, 2024, the company's revenue reached RMB 1.67 billion, an increase of 7.8% compared to the same period last year. The gross profit reached RMB 0.86 billion, an increase of 6.7% compared to the same period last year. The net income attributable to the company's shareholders reached RMB 0.501 billion, an increase of 5.8% compared to the same period last year. The net cash flow from operating activities of the company during this reporting period reached RMB 77.5 million, and the company has no bank liabilities. In the first half of 2024, the company continues to maintain its leading position in the field of real estate development services.

Gelonghui FinanceAug 23 09:58 ET

Express News | Corrected-Greentown Management Holdings Company H1 Revenue RMB 1,669.6 Million (Corrects Amount)

ReutersAug 23 09:49 ET

Express News | Greentown Management Holdings Company H1 Net Income RMB 501.2 Million

ReutersAug 23 09:48 ET