Forty Chinese property developers expected their sales for 2020 would be less than 14% on average, the lowest in recent years, the China Securities Journal reported. Among them, 34 enterprises raised their sales targets while one was unchanged and five lowered their targets.
Of the 34 enterprises that raised their sales targets, most set a 10-20% sales growth. Evergrande China expected a 30% sales growth.
Large and medium-sized housing enterprises generally give cautious sales targets. Sunac China, China Overseas Land & Investment Ltd, China Resources Land and Longfor Group set sales growth below 10%.
Shanghai Environment Group, a Shanghai-listed company, said its net profit grew 6.65% to 616 million yuan (US$88 million) for the year ended December 31, 2019, from a year ago. Operating income increased by 41.19% to 3.65 billion yuan. The company proposed a final dividend of 0.85 yuan per 10 shares.
Shanghai Environment Group Co, Ltd is one of the earliest professional environmental protection enterprises in the solid waste industry in China. The company engages in domestic waste and municipal sewage management businesses. Its new businesses include hazardous waste, medical waste, soil remediation, municipal sludge and solid waste recycling (kitchen waste and construction waste) management.
Bilibili, a video sharing platform in China, said it will receive approximately $400 million in equity investment from Sony Corporation of America (SCA), a wholly-owned subsidiary of Sony Corporation.
SCA will subscribe for newly issued Class Z ordinary shares of Bilibili. The transaction is expected to close on or before April 10, 2020. Upon closing, SCA will beneficially own about 4.98% of Bilibili’s total issued shares.
Bilibili and Sony will further pursue collaboration opportunities in the entertainment business in the Chinese market, including anime and mobile games.