China Overseas Property Holdings Ltd (CHINA OVS PPT, 02669.HK) saw its stock price surge 5.10% in intraday trading, as the company released impressive full-year financial results and announced a generous dividend payout.
The property management firm reported robust financial performance for the fiscal year. According to the released figures, China Overseas Property achieved a revenue of RMB 14,023.8 million and an operating income of RMB 2,012.4 million. The company's net income attributable to shareholders reached RMB 1,510.9 million, demonstrating strong profitability. Notably, the company maintained a healthy gross margin of 16.6%, indicating efficient cost management in its operations.
Adding to investor enthusiasm, China Overseas Property declared a final dividend of HK9.5 cents per share. This dividend announcement, coupled with the strong financial results, appears to have boosted investor confidence and driven the stock's significant price increase. The market's positive reaction suggests that investors are optimistic about the company's performance and its commitment to delivering shareholder value.
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