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China Real Estate: Investment in China Evergrande Records 1.6 Billion Unrealized Loss Has No Impact on Cash Flow

2020-01-03T10:23:09.732Z


China Real Estate (0127) announced that the group's listed equity portfolio mainly includes China Evergrande Group (3333) shares. Based on the closing price of Evergrande's shares at the end of last year, a preliminary assessment is expected.


Financial news

Written by: Xu Shihao

2020-01-03 18:15

Last updated: 2020-01-03 18:15

China Real Estate (0127) announced that the group's listed equity portfolio mainly includes China Evergrande Group (3333) shares. Based on the closing price of Evergrande shares at the end of last year for preliminary assessment, it is expected that the unrealized loss of fair value changes in 2019 will be approximately 1.6 billion yuan will be recorded as other comprehensive expenses.

As a result, the cumulative unrealized gains from changes in the fair value of Evergrande's shares will be reduced from 6.6 billion yuan at the end of 2018 to approximately 5 billion yuan on December 31 last year. It is accounted for in the reserve, but indicates that changes in unrealised fair value are non-cash items and have no impact on cash flows.

The Group also stated that no dividend income from Evergrande has been recognised during the year.

In addition, the Group sold a number of securities investment and treasury products in 2019. It is estimated that the sale will bring about a net realized gain of approximately 183.5 million yuan, which will be recognized in the profit and loss in 2019. As for the remaining securities investment and treasury products, it is estimated that the quoted price will be used for preliminary assessment. It is estimated that the net unrealized gain of the fair value change in 2019 is about 1 billion yuan.

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Chinese Real Estate Group

Source: hk1

All news articles on 2020-01-03

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