Long and earn 2% Interim interest maintained at $0.87

Changhe (0001) announced that its first-half profit increased by 2% year-on-year to 18.32 billion yuan, in line with market expectations, and interim dividends remained at 0.87 yuan

During the period, revenue fell 3% year-on-year to 211.7 billion yuan. If calculated in local currency, it recorded a growth of 2%. Long and profitability are also affected by the monetary factor, which is 7% in long-term and half-year earnings in local currency terms.

Changhe Chairman Li Zeju said that currency and commodity prices fluctuated since the second half of 2018, which has weakened the Group’s profit in the first half of this year. The major currencies such as the pound, the euro and the renminbi depreciated by about 6% compared with the first half of last year, which affected the performance of the accounts. Looking forward to the rest of the year, the global economy remains uncertain and the risks remain severe. However, the Group’s operational resilience, diversified business, stable cash flow and deep financial fundamentals continue to be cautious and optimistic about the outlook.

Changshi’s profit per share increased by 16.6%

In the first half of the year, the Group’s profit from the revaluation and the disposal of the investment properties increased by 16.6% to RMB 4.4 billion.

Interim interest increased by 10.6% to 0.52 yuan

As the sale of investment properties such as the Central Link recorded a revenue of 11.759 billion yuan in the same period last year, the net profit in the first half of this year fell by 38.9% to 15.128 billion yuan.

Chairman Li Zeju said that the local property market is facing stability in the face of international political and economic changes and other unpredictable factors. The property market is still stable. The Group’s different property projects are being planned and carried out, which will bring revenue contribution and seek suitable opportunities to strengthen the property development portfolio.


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