Hong Kong — China developers reporting on good 2018 among jumping-up debt ratio as some exceeds 100% level.
Over the past two weeks, major China developers were busy with annual results reporting. March 28th, Hong Kong-listed China’s second biggest home builder Evergrande, reported core profit jump 93.3% to 78.32 billion yuan (USD11.88 billion) for the year. Net gearing ratio, a measure of equity to debt, hit 151.9% at the end of 2018, up 24 percentage points from six months earlier
Country Garden Holdings, China’s biggest home builder, reported core profit for 2018 rose 38% to a record. Country Garden said in a statement on Monday its core profit, which is net profit excluding non-recurring income and revaluation gains, grew to 34.13 billion yuan last year. (Debt ratio)
State-owned China Overseas Land, reported on March 20th net profit during 2018 rose 10.1% to HKD44.9 billion, core profit rose 8.3% from a year ago, boosted by higher margins, core profit of the country’s seventh-biggest property developer by sales, which excludes revaluation gains and non-recurring items, came in at HKD37.1 billion