- Country Garden's core net profit decreased by -8.6% YoY in 1H 2020, due to slow construction progress, costly land bank acquired in 2017 & 2018, and losses from new businesses.
- Country Garden is on target to achieve a +10% YoY contracted sales growth for FY 2020, but the company's relatively high exposure to lower-tier cities is a key risk factor.
- Country Garden trades at 3.7 times consensus forward FY 2021 P/E and 1.21 times P/B, and it offers a consensus forward FY 2021 dividend yield of 8.3%.
For further details see:
Country Garden: On Track To Meet Sales Target Despite Lower-Tier Cities Exposure