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<Research>UOB Kay Hian Keeps Buy on CHINA RES LAND (01109.HK), Cuts Earnings Forecast/ TP
Recommend 2 Positive 4 Negative 2 |
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UOB Kay Hian released a research report predicting that CHINA RES LAND (01109.HK) will see its core net profit drop by 18.8% YoY in 2025, due to a decline in the GPM of the real estate development and delayed gain from REITs listing. The margin of the real estate development was expected to decrease from 16.8% in 2024 to 14.5%, although the balance sheet is expected to remain robust. UOB Kay Hian lowered its earnings forecasts for CHINA RES LAND for 2025-27 by 14.6%/ 11.4%/ 10.7%, and reduced the target price from HKD37.51 to HKD35.4. The broker remained optimistic about its core strengths in commercial operations and high-end residential development, maintaining a Buy rating. AASTOCKS Financial News Website: www.aastocks.com |
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