Times Neighborhood (9928 HK): China Property Play With High Margin of Safety

Analyst

Steve

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/country-garden-services-holdin" target="_blank" data-smartkarma-citation="entities:27343:1" rel="noopener">Country Garden Services (6098 HK)</a> announced a profit warning for 1H23 last night, expecting sales to increase by 3-4% yoy and net profit to see a 0-10% drop yoy.</li>
<li>The company also announced the intention to repurchase up to 10% of total shares outstanding. </li>
<li>Share price up +18% following the profit warning and share buyback announcement - a good read-across for the rest of the sector that will report interim results later this month. </li>
</ul>



Country Garden Services (6098 HK) announced a profit warning for 1H23 last night, expecting sales to increase by 3-4% yoy and net profit to see a 0-10% drop yoy.
The company also announced the intention to repurchase up to 10% of total shares outstanding. 
Share price up +18% following the profit warning and share buyback announcement - a good read-across for the rest of the sector that will report interim results later this month. 


Country Garden Services (6098 HK): 1H23 Profit Warning A Good Read-Across For The Sector