Intrinsic value of China HGS Real Estate - HGSH

Previous Close

$1.36

  Intrinsic Value

$0.90

stock screener

  Rating & Target

sell

-34%

Previous close

$1.36

 
Intrinsic value

$0.90

 
Up/down potential

-34%

 
Rating

sell

Our model is not good at valuating stocks of financial companies, such as HGSH.

We calculate the intrinsic value of HGSH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  94
  145
  217
  315
  444
  610
  819
  1,076
  1,384
  1,749
  2,171
  2,655
  3,200
  3,807
  4,476
  5,207
  5,998
  6,848
  7,756
  8,720
  9,739
  10,812
  11,939
  13,118
  14,349
  15,633
  16,970
  18,361
  19,808
  21,311
Variable operating expenses, $m
  80
  123
  184
  267
  376
  517
  694
  911
  1,173
  1,481
  1,839
  2,249
  2,710
  3,225
  3,792
  4,411
  5,081
  5,801
  6,569
  7,386
  8,249
  9,158
  10,112
  11,111
  12,154
  13,241
  14,374
  15,552
  16,777
  18,051
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  80
  123
  184
  267
  376
  517
  694
  911
  1,173
  1,481
  1,839
  2,249
  2,710
  3,225
  3,792
  4,411
  5,081
  5,801
  6,569
  7,386
  8,249
  9,158
  10,112
  11,111
  12,154
  13,241
  14,374
  15,552
  16,777
  18,051
Operating income, $m
  14
  22
  33
  48
  68
  93
  125
  165
  212
  268
  332
  406
  490
  582
  685
  797
  918
  1,048
  1,187
  1,334
  1,490
  1,654
  1,827
  2,007
  2,195
  2,392
  2,596
  2,809
  3,031
  3,261
EBITDA, $m
  32
  50
  74
  108
  152
  209
  281
  369
  475
  600
  745
  910
  1,097
  1,305
  1,535
  1,786
  2,057
  2,348
  2,660
  2,990
  3,340
  3,708
  4,094
  4,498
  4,920
  5,361
  5,819
  6,296
  6,792
  7,308
Interest expense (income), $m
  5
  7
  14
  24
  39
  58
  84
  117
  159
  210
  272
  345
  429
  526
  635
  757
  890
  1,037
  1,195
  1,365
  1,546
  1,739
  1,943
  2,157
  2,383
  2,618
  2,865
  3,121
  3,389
  3,667
  3,956
Earnings before tax, $m
  7
  8
  9
  10
  10
  9
  8
  6
  1
  -5
  -13
  -23
  -37
  -53
  -72
  -94
  -119
  -147
  -178
  -212
  -249
  -289
  -331
  -376
  -423
  -473
  -525
  -580
  -636
  -696
Tax expense, $m
  2
  2
  2
  3
  3
  3
  2
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  5
  6
  7
  7
  7
  7
  6
  4
  1
  -5
  -13
  -23
  -37
  -53
  -72
  -94
  -119
  -147
  -178
  -212
  -249
  -289
  -331
  -376
  -423
  -473
  -525
  -580
  -636
  -696

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  606
  936
  1,399
  2,030
  2,865
  3,938
  5,286
  6,941
  8,931
  11,281
  14,009
  17,127
  20,644
  24,562
  28,881
  33,595
  38,699
  44,183
  50,040
  56,260
  62,834
  69,758
  77,024
  84,629
  92,574
  100,858
  109,485
  118,460
  127,793
  137,493
Adjusted assets (=assets-cash), $m
  606
  936
  1,399
  2,030
  2,865
  3,938
  5,286
  6,941
  8,931
  11,281
  14,009
  17,127
  20,644
  24,562
  28,881
  33,595
  38,699
  44,183
  50,040
  56,260
  62,834
  69,758
  77,024
  84,629
  92,574
  100,858
  109,485
  118,460
  127,793
  137,493
Revenue / Adjusted assets
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
Average production assets, $m
  535
  826
  1,236
  1,793
  2,530
  3,478
  4,668
  6,129
  7,887
  9,962
  12,370
  15,124
  18,229
  21,689
  25,503
  29,666
  34,172
  39,015
  44,187
  49,679
  55,485
  61,598
  68,015
  74,731
  81,746
  89,061
  96,679
  104,605
  112,846
  121,411
Working capital, $m
  47
  73
  108
  157
  222
  305
  410
  538
  692
  874
  1,086
  1,327
  1,600
  1,904
  2,238
  2,604
  2,999
  3,424
  3,878
  4,360
  4,870
  5,406
  5,969
  6,559
  7,174
  7,816
  8,485
  9,181
  9,904
  10,656
Total debt, $m
  260
  449
  715
  1,077
  1,556
  2,172
  2,946
  3,896
  5,039
  6,387
  7,953
  9,743
  11,761
  14,010
  16,489
  19,195
  22,125
  25,273
  28,635
  32,205
  35,979
  39,953
  44,123
  48,489
  53,049
  57,804
  62,756
  67,908
  73,265
  78,833
Total liabilities, $m
  348
  537
  803
  1,165
  1,644
  2,261
  3,034
  3,984
  5,127
  6,475
  8,041
  9,831
  11,850
  14,099
  16,577
  19,284
  22,213
  25,361
  28,723
  32,293
  36,067
  40,041
  44,212
  48,577
  53,137
  57,892
  62,844
  67,996
  73,353
  78,921
Total equity, $m
  258
  399
  596
  865
  1,220
  1,678
  2,252
  2,957
  3,805
  4,806
  5,968
  7,296
  8,794
  10,463
  12,303
  14,311
  16,486
  18,822
  21,317
  23,967
  26,767
  29,717
  32,812
  36,052
  39,436
  42,965
  46,640
  50,464
  54,440
  58,572
Total liabilities and equity, $m
  606
  936
  1,399
  2,030
  2,864
  3,939
  5,286
  6,941
  8,932
  11,281
  14,009
  17,127
  20,644
  24,562
  28,880
  33,595
  38,699
  44,183
  50,040
  56,260
  62,834
  69,758
  77,024
  84,629
  92,573
  100,857
  109,484
  118,460
  127,793
  137,493
Debt-to-equity ratio
  1.010
  1.130
  1.200
  1.250
  1.280
  1.290
  1.310
  1.320
  1.320
  1.330
  1.330
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.340
  1.350
  1.350
  1.350
  1.350
  1.350
  1.350
Adjusted equity ratio
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426
  0.426

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  5
  6
  7
  7
  7
  7
  6
  4
  1
  -5
  -13
  -23
  -37
  -53
  -72
  -94
  -119
  -147
  -178
  -212
  -249
  -289
  -331
  -376
  -423
  -473
  -525
  -580
  -636
  -696
Depreciation, amort., depletion, $m
  18
  28
  41
  60
  84
  116
  156
  204
  263
  332
  412
  504
  608
  723
  850
  989
  1,139
  1,301
  1,473
  1,656
  1,849
  2,053
  2,267
  2,491
  2,725
  2,969
  3,223
  3,487
  3,762
  4,047
Funds from operations, $m
  23
  34
  48
  67
  91
  123
  161
  208
  264
  328
  400
  481
  571
  670
  778
  895
  1,020
  1,154
  1,295
  1,444
  1,601
  1,765
  1,936
  2,115
  2,302
  2,496
  2,698
  2,907
  3,125
  3,351
Change in working capital, $m
  18
  26
  36
  49
  65
  83
  104
  128
  154
  182
  211
  242
  273
  304
  335
  365
  396
  425
  454
  482
  510
  537
  563
  589
  616
  642
  669
  696
  723
  752
Cash from operations, $m
  6
  8
  12
  18
  27
  40
  57
  80
  110
  145
  188
  239
  299
  367
  444
  530
  625
  729
  841
  962
  1,091
  1,228
  1,373
  1,526
  1,686
  1,854
  2,029
  2,212
  2,402
  2,600
Maintenance CAPEX, $m
  -11
  -18
  -28
  -41
  -60
  -84
  -116
  -156
  -204
  -263
  -332
  -412
  -504
  -608
  -723
  -850
  -989
  -1,139
  -1,301
  -1,473
  -1,656
  -1,849
  -2,053
  -2,267
  -2,491
  -2,725
  -2,969
  -3,223
  -3,487
  -3,762
New CAPEX, $m
  -199
  -291
  -409
  -557
  -737
  -948
  -1,190
  -1,461
  -1,758
  -2,075
  -2,408
  -2,754
  -3,105
  -3,460
  -3,813
  -4,163
  -4,507
  -4,843
  -5,172
  -5,492
  -5,806
  -6,113
  -6,416
  -6,716
  -7,015
  -7,315
  -7,618
  -7,926
  -8,241
  -8,566
Cash from investing activities, $m
  -210
  -309
  -437
  -598
  -797
  -1,032
  -1,306
  -1,617
  -1,962
  -2,338
  -2,740
  -3,166
  -3,609
  -4,068
  -4,536
  -5,013
  -5,496
  -5,982
  -6,473
  -6,965
  -7,462
  -7,962
  -8,469
  -8,983
  -9,506
  -10,040
  -10,587
  -11,149
  -11,728
  -12,328
Free cash flow, $m
  -204
  -301
  -425
  -581
  -770
  -993
  -1,249
  -1,537
  -1,852
  -2,192
  -2,552
  -2,927
  -3,311
  -3,701
  -4,093
  -4,483
  -4,871
  -5,254
  -5,631
  -6,003
  -6,371
  -6,735
  -7,096
  -7,457
  -7,820
  -8,186
  -8,558
  -8,937
  -9,326
  -9,728
Issuance/(repayment) of debt, $m
  130
  189
  266
  362
  479
  616
  774
  950
  1,142
  1,349
  1,566
  1,790
  2,019
  2,249
  2,479
  2,706
  2,929
  3,148
  3,362
  3,570
  3,774
  3,974
  4,171
  4,366
  4,560
  4,755
  4,952
  5,152
  5,357
  5,568
Issuance/(repurchase) of shares, $m
  91
  135
  191
  262
  348
  451
  568
  701
  847
  1,006
  1,175
  1,352
  1,535
  1,722
  1,911
  2,102
  2,293
  2,483
  2,673
  2,862
  3,050
  3,238
  3,426
  3,616
  3,807
  4,002
  4,200
  4,403
  4,612
  4,828
Cash from financing (excl. dividends), $m  
  221
  324
  457
  624
  827
  1,067
  1,342
  1,651
  1,989
  2,355
  2,741
  3,142
  3,554
  3,971
  4,390
  4,808
  5,222
  5,631
  6,035
  6,432
  6,824
  7,212
  7,597
  7,982
  8,367
  8,757
  9,152
  9,555
  9,969
  10,396
Total cash flow (excl. dividends), $m
  16
  23
  32
  43
  57
  74
  93
  114
  137
  162
  188
  215
  242
  270
  298
  325
  352
  378
  404
  429
  453
  477
  501
  524
  547
  571
  594
  618
  643
  668
Retained Cash Flow (-), $m
  -96
  -141
  -198
  -269
  -355
  -457
  -574
  -705
  -848
  -1,006
  -1,175
  -1,352
  -1,535
  -1,722
  -1,911
  -2,102
  -2,293
  -2,483
  -2,673
  -2,862
  -3,050
  -3,238
  -3,426
  -3,616
  -3,807
  -4,002
  -4,200
  -4,403
  -4,612
  -4,828
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -80
  -118
  -166
  -225
  -298
  -383
  -481
  -591
  -711
  -844
  -987
  -1,137
  -1,292
  -1,452
  -1,614
  -1,777
  -1,941
  -2,105
  -2,269
  -2,433
  -2,597
  -2,761
  -2,926
  -3,092
  -3,260
  -3,431
  -3,606
  -3,785
  -3,969
  -4,160
Discount rate, %
  8.80
  9.24
  9.70
  10.19
  10.70
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.21
  20.17
  21.18
  22.24
  23.35
  24.52
  25.74
  27.03
  28.38
  29.80
  31.29
  32.85
  34.50
  36.22
PV of cash for distribution, $m
  -73
  -99
  -125
  -153
  -179
  -202
  -221
  -232
  -237
  -235
  -226
  -211
  -192
  -169
  -145
  -121
  -98
  -77
  -59
  -44
  -32
  -22
  -15
  -10
  -6
  -4
  -2
  -1
  -1
  0
Current shareholders' claim on cash, %
  55.5
  31.8
  18.9
  11.6
  7.4
  4.8
  3.3
  2.2
  1.6
  1.2
  0.9
  0.6
  0.5
  0.4
  0.3
  0.2
  0.2
  0.2
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0

China HGS Real Estate Inc., formerly China Agro Sciences Corp., is engaged in real estate development, primarily in the construction and sale of residential apartments, car parks and commercial properties. As of September 30, 2016, the Company had three types of real estate projects, including multi-layer apartment buildings, which were six stories or less; sub-high-rise apartment buildings, which were 7 to 11 stories; and high-rise apartment buildings, which were 12 to 33 stories. The Company's main projects located in Hanzhong City are Mingzhu Garden-Mingzhu Nanyuan, Mingzhu Beiyuan, Oriental Pearl Garden, Mingzhu Xinju and Liangzhou road related projects. In Yang County, its projects are Yangzhou Pearl Garden and Yangzhou Palace. Its Mingzhu Nanyuan project consists of multi-layer residential buildings, and sub-high-rise and high-rise residential buildings with commercial shops on the first floors.

FINANCIAL RATIOS  of  China HGS Real Estate (HGSH)

Valuation Ratios
P/E Ratio 12.3
Price to Sales 1.6
Price to Book 0.4
Price to Tangible Book
Price to Cash Flow -0.8
Price to Free Cash Flow -0.8
Growth Rates
Sales Growth Rate -50%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 1
Current Ratio 1.4
LT Debt to Equity 64.5%
Total Debt to Equity 70.3%
Interest Coverage 2
Management Effectiveness
Return On Assets 2.8%
Ret/ On Assets - 3 Yr. Avg. 9.3%
Return On Total Capital 2.2%
Ret/ On T. Cap. - 3 Yr. Avg. 13.9%
Return On Equity 3.2%
Return On Equity - 3 Yr. Avg. 17.5%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 26.3%
Gross Margin - 3 Yr. Avg. 36.1%
EBITDA Margin 28.9%
EBITDA Margin - 3 Yr. Avg. 35.5%
Operating Margin 15.8%
Oper. Margin - 3 Yr. Avg. 30.4%
Pre-Tax Margin 15.8%
Pre-Tax Margin - 3 Yr. Avg. 29.7%
Net Profit Margin 13.2%
Net Profit Margin - 3 Yr. Avg. 27.1%
Effective Tax Rate 16.7%
Eff/ Tax Rate - 3 Yr. Avg. 10.4%
Payout Ratio 0%

HGSH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the HGSH stock intrinsic value calculation we used $58.671424 million for the last fiscal year's total revenue generated by China HGS Real Estate. The default revenue input number comes from 0001 income statement of China HGS Real Estate. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our HGSH stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.8%, whose default value for HGSH is calculated based on our internal credit rating of China HGS Real Estate, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of China HGS Real Estate.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of HGSH stock the variable cost ratio is equal to 84.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for HGSH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for China HGS Real Estate.

Corporate tax rate of 27% is the nominal tax rate for China HGS Real Estate. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the HGSH stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for HGSH are equal to 569.7%.

Life of production assets of 5011.3 years is the average useful life of capital assets used in China HGS Real Estate operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for HGSH is equal to 50%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $161.889366 million for China HGS Real Estate - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 45.05 million for China HGS Real Estate is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of China HGS Real Estate at the current share price and the inputted number of shares is $0.1 billion.

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COMPANY NEWS

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▶ Who Owns China HGS Real Estate Inc (NASDAQ:HGSH)?   [May-31-18 02:34PM  Simply Wall St.]
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▶ China HGS posts 1Q profit   [Feb-12-18 07:27AM  Associated Press]
▶ Riding China Hgs Real Estate Inc (HGSH) to New Heights   [Jan-03-18 01:15PM  SmarterAnalyst]
▶ When Should You Buy China HGS Real Estate Inc (HGSH)?   [Nov-08-17 03:29PM  Simply Wall St.]
▶ When Should You Buy China HGS Real Estate Inc (HGSH)?   [Sep-11-17 03:03PM  Simply Wall St.]
▶ China HGS posts 3Q profit   [Aug-11-17 10:06PM  Associated Press]
▶ China HGS posts 2Q profit   [May-12-17 07:17AM  Associated Press]
▶ China HGS posts 1Q profit   [06:39AM  Associated Press]
▶ What is Causing These 5 Stocks to Move Sharply on Friday?   [Apr-08-16 01:39PM  Insider Monkey]
▶ 3 Real Estate Stocks Nudging The Industry Higher   [Sep-23  01:03PM  at TheStreet]
▶ Why China HGS Real Estate (HGSH) Stock Is Up Today   [Sep-02  11:08AM  at TheStreet]
▶ Why China HGS Real Estate (HGSH) Stock Is Jumping Today   [Aug-19  11:12AM  at TheStreet]

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