- China Overseas Land's net profit attributable to shareholders only increased marginally by +0.3% YoY in 1H 2020, due to gross margin contraction and higher profit attributable to non-controlling interests.
- China Overseas Land's weaker-than-expected contracted sales growth and slower-than-expected project construction are also negatives, with the company's strong balance sheet being the sole positive.
- China Overseas Land trades at 4.3 times consensus forward FY 2021 P/E and 0.66 times P/B, and it offers a consensus forward FY 2021 dividend yield of 6.7%.
For further details see:
China Overseas Land: Balance Sheet Strength Is The Sole Positive