Elevator Pitch
I maintain my "Neutral" rating on Hong Kong-listed Mainland China property developer Shimao Property Holdings Limited (OTCPK:SIOPF) (OTCPK:SHMAY) [813:HK].
This is an update of my initiation article on Shimao Property published on September 6, 2019. Shimao Property's share price has increased by +38% from HK$23.10 as of September 5, 2019 to HK$32.05 as of May 22, 2020 since my initiation. Shimao Property trades at 7.9 times consensus forward next twelve months' P/E, which represents a premium to its historical five-year and 10-year mean consensus forward next twelve months' P/E