The total market value of the property sector in Hong Kong stocks has risen three times a year, with an average PE of 31.7 times and a maximum of 111 times

The total market value of the property sector in Hong Kong stocks has risen three times a year, with an average PE of 31.7 times and a maximum of 111 times

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In 2020, property service companies will enter the stage of accelerated listing. At present, 40 property service companies have landed in Hong Kong’s capital market. Different from the sluggish stock price performance at the beginning of 2021, the capital market has higher enthusiasm for the property sector. Data shows that the total market value of the Hong Kong stock property sector has increased from 206.2 billion yuan in early 2020 to 828.54 billion yuan on March 31, 2021.

As of the closing of the trading day on April 7, the top three property companies by market value were Country Garden Services, Evergrande Properties, and China Resources Vientiane Life. The market value threshold of the top three companies was 100 billion yuan, and the market value of Country Garden Services was as high as 237.3 billion yuan. The total market value of listed property stocks is nearly 30%; the market value performance of leading property companies is still optimistic. The market value of Evergrande Property reaches 176.8 billion yuan. The management of Evergrande Property stated at the 2020 performance meeting that if industry analysts say that the company’s 2021 The annual average profit forecast, the conservative estimate of Evergrande’s property value should be around 230 billion Hong Kong dollars.

The market value of property stocks is relatively divergent. The three property companies at the bottom of the rankings: Henan Zhengshang’s Industrial Internet of Things, Songdu Service, and Hongkun Group’s Yexing Group have a combined market value of only 1.145 billion yuan.

As of the close of April 7, the total market value ranking of listed property companies (source ifind, compiled by Zhongzhi Research Institute)

Due to low leverage, the capital market is optimistic, and the valuation of property stocks continues to be at a high level. As of the close of March 31, 2021, the average P/E ratio of the Hong Kong stocks property sector reached 31.7 times, which was much higher than the P/E ratio of the main board of the Hong Kong stock market (12 times). Highly recognized.

As of the close of April 7, the rolling price-earnings ratio rankings of listed property companies (source ifind, compiled by Zhongzhi Research Institute)

In addition, 13 companies have already handed in the form and are waiting for the bell to strike.

13 property companies that have been submitted

Niu Xiaojuan believes that it is expected that for some time in the future, property service companies will still show a trend of getting together into the capital market. At the same time, listed property service companies use their capital advantages to clarify development plans, expand management scale, upgrade facilities and equipment, ensure the healthy growth of the company, and continuously improve its industry status. In 2020, the net financing of property service companies listed on the Hong Kong Stock Exchange will exceed HK$68 billion.

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