XHKG
1503
Market cap164mUSD
Apr 11, Last price
1.13HKD
1D
2.73%
1Q
-4.24%
IPO
-66.67%
Name
China Merchants Commercial Real Estate Investment Trust
Chart & Performance
P/E
—
P/S
2.45
EPS
—
Div Yield, %
14.60%
Shrs. gr., 5y
—
Rev. gr., 5y
4.66%
Revenues
529m
+8.22%
Net income
-185m
L-2.44%
CFO
0k
-100.00%
Dividend
Sep 09, 20240.06 HKD/sh
Earnings
May 30, 2025
Profile
China Merchants Commercial REIT is a Hong Kong collective investment scheme constituted as a unit trust and authorised under section 104 of the SFO. China Merchants Commercial REIT is a REIT formed to primarily own and invest in high quality income-generating commercial properties in the PRC (including Hong Kong and Macao but excluding the CML Cities).
Valuation
Title CNY in thousands, except ratios and share amounts | FY | FY | FY | FY | FY | FY | FY | FY | FY |
|---|---|---|---|---|---|---|---|---|---|
| 2024‑12 | 2023‑12 | 2022‑12 | 2021‑12 | 2020‑12 | 2019‑12 | 2018‑12 | 2017‑12 | 2016‑12 | |
| Income | |||||||||
Revenues | 529,359 8.22% | 489,159 13.31% | 431,702 -0.26% | ||||||
Cost of revenue | 16,226 | 149,444 | 126,027 | ||||||
Unusual Expense (Income) | |||||||||
NOPBT | 513,133 | 339,715 | 305,675 | ||||||
NOPBT Margin | 96.93% | 69.45% | 70.81% | ||||||
Operating Taxes | 24,295 | 12,236 | 104,405 | ||||||
Tax Rate | 4.73% | 3.60% | 34.16% | ||||||
NOPAT | 488,838 | 327,479 | 201,270 | ||||||
Net income | (184,774) -2.44% | (189,389) -9.62% | (209,544) -178.28% | ||||||
Dividends | (181,952) | (275,187) | |||||||
Dividend yield | 12.04% | 12.26% | |||||||
Proceeds from repurchase of equity | |||||||||
BB yield | |||||||||
| Debt | |||||||||
Debt current | |||||||||
Long-term debt | 2,376,058 | 4,053,724 | 4,052,639 | ||||||
Deferred revenue | 7,087 | 23,909 | |||||||
Other long-term liabilities | 3,120,782 | 399,261 | (1,133,774) | ||||||
Net debt | 1,389,451 | 2,974,713 | 2,911,927 | ||||||
| Cash flow | |||||||||
Cash from operating activities | 274,913 | 200,366 | |||||||
CAPEX | (5) | ||||||||
Cash from investing activities | (67,548) | (1,068,201) | |||||||
Cash from financing activities | (269,066) | 1,274,458 | |||||||
FCF | 753,070 | 623,563 | (417,314) | ||||||
| Balance | |||||||||
Cash | 986,607 | 1,079,011 | 1,140,712 | ||||||
Long term investments | |||||||||
Excess cash | 960,139 | 1,054,553 | 1,119,127 | ||||||
Stockholders' equity | 4,557,528 | 4,880,584 | 4,047,268 | ||||||
Invested Capital | 9,094,229 | 7,886,842 | 8,500,448 | ||||||
ROIC | 5.76% | 4.00% | 2.45% | ||||||
ROCE | 5.10% | 3.40% | 2.85% | ||||||
| EV | |||||||||
Common stock shares outstanding | 1,127,820 | 1,127,820 | 1,127,820 | ||||||
Price | 1.22 -8.96% | 1.34 -32.66% | 1.99 -23.75% | ||||||
Market cap | 1,375,940 -8.96% | 1,511,278 -32.66% | 2,244,361 -23.75% | ||||||
EV | 4,226,954 | 5,974,650 | 5,544,667 | ||||||
EBITDA | 513,133 | 339,838 | 305,756 | ||||||
EV/EBITDA | 8.24 | 17.58 | 18.13 | ||||||
Interest | 137,163 | 90,263 | |||||||
Interest/NOPBT | 40.38% | 29.53% | |||||||