Property management stocks rose in early trading along with domestic housing stocks. As of press release, Wanwuyun (02602) rose 13.43% to HK$23.65; Yongsheng Services (01995) rose 9.64% to HK$1.82; Country Garden Services (06098) rose 7.77% to HK$5.69; and Elegant Living Services (03319) rose 5% to HK$31.5.
The Zhitong Finance App learned that property management stocks rose in early trading with domestic housing stocks. As of press release, Wanwuyun (02602) rose 13.43% to HK$23.65; Yongsheng Services (01995) rose 9.64% to HK$1.82; Country Garden Services (06098) rose 7.77% to HK$5.69; and Elegant Life Services (03319) rose 5% to HK$31.5.
CITIC Securities pointed out that in 2023, leading property service companies raised their dividend payout ratios one after another. This not only shows substantial improvements in corporate governance, and cash bulls are willing to share growth with the market, but also shows substantial improvements in industry operations, that is, healthy and reliable operating cash inflows; it is expected that leading property service companies are expected to achieve double-digit revenue growth and profit growth higher than revenue growth. Net operating cash flow may continue to exceed net profit, and dividend payment rates may further increase. Currently, sector valuations are low, and I am optimistic about property service companies that are fundamentally oriented and their dividends continue to increase. Once central enterprises with good fundamentals but insufficient willingness to pay dividends begin to pay attention to investors' sense of acquisition, it is expected that they will also be highly recognized by the market.
Dongwu Securities pointed out that it is difficult for property companies to completely cut off with real estate-related parties, and there is no need to cut. If real estate partners can support each other with property companies, they should not give too many discounts to related businesses; how to balance quality and scale to achieve high-quality third-party development is currently the biggest difficulty faced by all property companies; as the industry begins to return to a normal pace of development, the property business model should match a higher dividend rate, and increasing and maintaining a high dividend rate should be a normal decision for property companies to adapt to the new stage of industry and company development.