10 stories mentioning HKG:0123Updated 1h ago
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Yuexiu Property (HKG:0123) entered into a foreign exchange forward contract to lock in the price of purchasing $60 million in cash using yuan, according to a Monday filing with the Hong Kong bourse.The company will purchase the U.S. dollars from its controlling shareholder Yue Xiu Enterprises on the basis of 6.0287 yuan per $1.The forward contract has a settlement date of Jan. 20, 2031.
Yuexiu Property (HKG:0123) recorded contracted sales of around 11.3 billion yuan in May, up 18% from a year prior, according to a Monday Hong Kong bourse filing.The property firm's gross floor area (GFA) jumped 33% to approximately 325,200 square meters.For the five months ended May 31, contracted sales fell 27% to roughly 37 billion yuan, while GFA climbed 3.5% to 1.2 million square meters.The company did not acquire any new land in May.
Hong Kong stocks soared Tuesday as tech shares rallied, led by renewed enthusiasm for artificial intelligence.The Hang Seng Index rose by around 640.14 points, or roughly 2.5%, to end at 26,038.32, while the Hang Seng China Enterprises Index increased by 255. points, or around 3%, to close at 8,762.97.The Hang Seng TECH Index similarly jumped 234.36 points, or 4.7%, to 5,199.28.Markets continued to follow updates in the Middle East which is yet to see a breakthrough between the U.S. and Iran and were balancing renewed geopolitical risks against continued enthusiasm for artificial intelligence-driven growth and technology investment, Reuters reported, citing Robert Savage, head of markets macro strategy at BNY.In corporate news, Fitch Ratings affirmed Yuexiu Property's (HKG:0123) long-term foreign-currency issuer default rating at BBB- and maintained a stable outlookFitch attributed the affirmation to Yuexiu Property's stable market position and positive operating cash flow, despite a decline in contracted sales amid China's property market downturn.
Fitch Ratings affirmed Yuexiu Property's (HKG:0123) long-term foreign-currency issuer default rating at BBB- and maintained a stable outlook, according to a Monday press release.The ratings agency also affirmed the company's senior unsecured rating, medium-term note program, and notes issued by Westwood Group at BBB-.Fitch attributed the affirmation to Yuexiu Property's stable market position, positive operating cash flow, moderate net leverage, and strong access to funding, despite a decline in contracted sales amid China's property market downturn.The rating incorporates a two-notch uplift from Yuexiu Property's standalone credit profile, reflecting Fitch's view of strong support incentives from parent Guangzhou Yuexiu, which is wholly owned by Guangzhou's state-owned assets regulator.
Yuexiu Property (HKG:0123) unit Joy Delight International obtained approval to list 1.6 billion yuan of 3.40% guaranteed green notes due 2029 on the Hong Kong Stock Exchange, according to a Thursday bourse filing.Shares of the property company were up nearly 7% in Friday morning trade.The notes are guaranteed by Yuexiu Property, the filing said.Trading in the notes is expected to commence on Friday and will be available only to professional investors.
Yuexiu Property (HKG:0123) became a guarantor for a committed bank facility of up to HK$3 billion to be granted to unit Charm Smart Development by a bank, according to a Tuesday Hong Kong bourse filing.Charm Smart Development obtained the facility to fund the development of a portion of Yau Tong Inland Lot No. 46, the property developer said.
Yuexiu Property (HKG:0123) wholly owned unit Joy Delight International plans to issue 1.60 billion yuan of 3.40% guaranteed green notes due 2029, according to a Thursday Hong Kong bourse filing.The property developer said proceeds will be used to refinance certain offshore medium- to long-term debts maturing within one year and to finance or refinance eligible green projects.The green notes will be offered to professional investors and are expected to be issued on May 28.
Yuexiu Property (HKG:0123) recorded contracted sales of around 8.50 billion yuan in April, down 17% from a year prior, according to a Friday Hong Kong bourse filing.The property firm's gross floor area (GFA) jumped 14% on year to 261,300 square meters.For the four months ended April 30, contracted sales and GFA slipped 38% and 4.3%, respectively, to roughly 25.7 billion yuan and 884,300 square meters.The company did not acquire any new land in April.
Yuexiu Property (HKG:0123) agreed to dispose of a portfolio of assets and businesses through the transfer of target companies to connected parties, according to a Monday Hong Kong bourse filing.The transactions involve assets including Nansha IFC, Yungu Industrial Park, Zhigu Industrial Park, Bijie Hotel, and healthcare, nursing, and elderly care businesses, the filing showed.Total net proceeds are estimated at 4.46 billion yuan, with about 400 million yuan to be used for debt repayment and the remaining 4.06 billion yuan for working capital.Following completion, the target companies will cease to be subsidiaries and their financial results will no longer be consolidated.
Yuexiu Property (HKG:0123) has an average rating of buy and mean price target of HK$5.22, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
