CNOOC Property (02669) paid out 0.14 yuan for the year, up 16.7% year on year. There was no surprise. It also meant that the payout ratio was 31%, and the dividend yield reached 2.3%.
The Zhitong Finance App learned that Morgan Stanley released a research report stating that it gave CNOOC Properties (02669) an “increased” rating, with a target price of HK$9.39. The company's revenue rose 19.7% year on year to 13 billion yuan last year, 7% lower than the forecast, which means an 8% year-on-year increase in the second half of last year, mainly dragged down by basic property management and value-added business for non-owners.
The bank said that CNOOC Properties' gross margin remained at 15.9%, but was lower than the bank's forecast of 16.1%. Net profit rose 22.8% year over year to 1.3 billion yuan, lower than the bank's forecast of 8%, which was affected by the slowdown in revenue growth. Furthermore, the company paid 0.14 yuan in dividends for the whole year, up 16.7% year on year. There was no surprise. It also meant that the payout ratio was 31%, and the dividend yield reached 2.3%.