Xindi proposed to push 10 disk Ji throughout the year to sell 40 billion Hong Kong dollar basic earnings soared 37% interim yield 1.2 yuan

Sun Hung Kai Properties (00016) announced its interim results ended the end of last year, excluding investment properties revaluation factors, basic profit of 19.973 billion yuan, up 36.7% year-on-year, better than expected net profit of 33.331 billion yuan, up 59.9%, earnings per share 6.9 yuan ; Interim dividend of 1.2 yuan per share, an increase of 9.1%, higher than the 5% increase expected by UBS. During the period, contracted sales in Hong Kong increased by 16.2% to HK $ 26.5bn. SHKP set the medium-term target for property sales in Hong Kong at 40 billion yuan a year, 11.1% above the target of 36.0 billion proposed at the performance meeting held last September.

Chairman and Managing Director Kwok Ping-lian said he was confident of the property sales performance for the current financial year (ended 12 months ended June) and had pre-sold about 40% of residential floors expected to be completed in the next fiscal year. In the future, 10 new flats will be launched in Hong Kong, including Phase 2 of PARK YOHO in Yuen Long, Pak Shek Kok residential project in Tai Po, and two residential projects in Tuen Mun. At the same time, there will be a modest sale of Sea Sprite in North Point, Bapton Hill in Mid-Levels West, and 2.8 million square feet of units for sale including West Kowloon Union Jack II.

Did not respond to resale Hainan Kai Tak land

Earlier, it was reported that Hainan Airlines would like to borrow Kai Tak land as collateral for borrowing from Sun Hung Kai and a number of local developers have been discussed to discuss cooperation, followed by the implementation of which two of the land sold to Hengdi (00012), the market concerned about the remaining two Will Kai Tak land be transferred to developers? Guo Binglian did not respond positively to the question about Hainan Airlines, and repeatedly stressed that the Group will actively buy land from different channels. He said he expects the government to increase the supply of land. Do not worry so much so that there will be too much surplus in the storeroom. The situation of expensive land does not appear frequently. The increase in the supply of property will not continue to rise.

Three new projects were newly added during the period, involving a total GFA of about 5.3 million sq ft, bringing the total land area available for development in Hong Kong to 21.4 million sq ft; of which, Shizu Township Development Project has a total GFA of nearly 4.8 million Square feet. Based on site area, it holds 29 million square feet of agricultural land. Huang Zhirong, deputy managing director, mentioned that he has been consulting with the government over the years to apply for the rezoning of agricultural land and hopes the government can expedite the examination and approval process.

No intention to criticize the number of shares of each lot

Deputy Managing Director Thunder said the market supply will gradually increase over the next two years. The tenants and property swaprs are still keen on home ownership. Last year was the record year for the property market. It is expected that the property price increase will drop to about 5% this year. The abundant capital market in Hong Kong has not immediately followed the pressure of the United States to raise interest rates. It does not have much material impact on Hong Kong’s property market.

In response to the question, Guo Binglian pointed out that the share price of Xindi Land was not as high as in 2007, with a net asset value of 180 Yuan per share and a stock price of only 130 Yuan. Therefore, he did not consider the share issue.

He thinks the opinion deserves consideration for the dismantling of the number of shares held by each hand and will be discussed at the June board of directors. Due to an increase of 36.7% in core profit, interim dividend increased by 9% and dividend payout ratio maintained at 45% -50%. The decrease of the number of projects in the second half of fiscal year will have an impact on profit.

Fan Hongling any non-executive take effect next month

In addition, the new appointment of Citic Pacific former managing director Fan Hongling as an independent non-executive director, effective March 1. Two-year term, annual director fee 300,000 yuan.

According to a spokesman for New Territories, Fan Hongling has many years of experience in the business and public services in Hong Kong. She has a very rich business experience and a deep knowledge of the real estate industry. I am confident he will work closely with the Board to provide valuable advice. Fan Hongling served as an independent non-executive director of Hong Kong Industrial (00480) in November last year.