Poly Developments and Holdings Group Co Ltd Class A

600048: XSHG (CHN)

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In Line Performance Through Third Quarter for Poly Developments, Growth Likely to Be Subdued Ahead

Phillip Zhong

Nov 2, 2020

Poly Developments and Holdings reported year-to-September revenue and earnings of CNY 117 billion and CNY 13.2 billion, up 5% and 3% year on year, respectively. The market was disappointed with the weak earnings growth, but it was in line with our projection. Net gearing remained high despite good contract sales during the third quarter.

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Poly Developments and Holdings Group Co Ltd Class A

In Line Performance Through Third Quarter for Poly Developments, Growth Likely to Be Subdued Ahead

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