On the evening of May 25, The Wharf Group (00004.HK) announced that the company had sold its Amazon shares and Facebook shares through a series of transactions in the public stock market since August 2019, and the cumulative return of funds was about It was 944 million US dollars (about 7.089 billion yuan).
Specifically, Wharf sold 223,452 shares of Amazon shares, with an average selling price of USD 1975 / share, and net proceeds of USD 441 million; 2,573,691 shares were sold The average selling price of Facebook shares is US $ 195 per share, and the net proceeds are approximately US $ 503 million.
The Wharf Group was founded in 1886 and its headquarters is located in Hong Kong. The Wharf Group spun off Hong Kong’s investment properties in November 2017. After the spin-off, the Wharf Group was responsible for Hong Kong’s real estate and logistics business, and was responsible for investment and development of properties and hotel management in the Mainland. The Wharf Group has built the company’s five main businesses with investment properties, development properties, logistics, hotels and terminals.
The company ’s 2019 annual report shows a comprehensive decline in its performance, with revenue of HK $ 16.874 billion, a year-on-year decrease of 20%; operating profit of HK $ 7.869 billion, a year-on-year decrease of 10%. Basic net profit decreased by 58% year-on-year, and basic earnings per share decreased by 50% year-on-year.
Hotel revenue increased from HKD 463 million in 2018 to HKD 530 million, and investment and other income increased from HKD 1.476 billion in 2018 to HKD 2.603 billion.
In terms of liabilities, Wharf ’s net debt is 19 billion yuan, a year-on-year decrease of 26%, the debt-equity ratio is 13%, and the actual loan interest rate is 3.6% class = “contheight”> It is worth mentioning that the vast majority of the Wharf Group ’s profit comes from Mainland China.
As of the end of 2019, Wharf ’s contracted sales in the Mainland fell 13% year-on-year to HK $ 19.922 billion; revenue fell 33% year-on-year to HK $ 14.806 billion; investment property income 39.24 HK $ 100 million, an increase of 14% year-on-year; operating profit of HK $ 2.311 billion, an increase of 23% year-on-year; basic net profit of HK $ 1.509 billion, an increase of 49% year-on-year.
In terms of land reserves, as of the end of 2019, Wharf ’s land reserves in the Mainland are about 3.5 million square meters. Wharf saidIt is expected that the Group will continue to pursue a prudent land procurement policy and strategically focus on first-tier or 1.5-tier cities, so that the return of high-quality land reserves will be maintained at a considerable level.
For the entire year of 2019, the new land bank in the Wharf inland has only acquired one project in Hangzhou, compared with the total amount of land acquired in the mainland for the whole year of 2018 Can be described as a sudden decrease.
Wharf said that due to the impact of the epidemic, the construction and sales of the Wharf Group ’s development properties were stalled, the flow of goods was weak, and the business in the first quarter of 2020 was dismal, even if the market Quickly returning to normal, I am afraid that it will still be difficult to improve significantly in the second quarter.
As of the close on the 26th, Wharf Group reported HK $ 13.46 / share, up 3.54%, with a total market value of HK $ 41.045 billion.