On August 26, CHINA OVERSEAS rose 4.42% in regular trading, trading at HK$14.39/share, with turnover of HK$247 million.
The movement was driven by the company's interim results released at midday. For the first half of the year, CHINA OVERSEAS reported revenue of RMB 97.6 billion, up 17.28% year over year, while contracted property sales reached RMB 134.35 billion, rising 11.8% year over year. However, attributable profit declined 18.24% to RMB 7.03 billion, with earnings per share at RMB 0.64. The company declared an interim dividend of HK$0.23 per share, payable on October 5. Sales area fell 12.1% to 4.5 million square meters, indicating higher average selling prices. The company highlighted strong performance in first-tier cities. Separately, Citi had previously initiated a 30-day positive catalyst watch on the stock with a target price of HK$18.2.
Within the Real Estate Development sector, CHINA JINMAO rose 9.36%, SUNAC rose 4.39%, LONGFOR GROUP rose 4.05%, CHINA RES LAND rose 1.93%, and HENDERSON LAND rose 0.68%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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