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<Research>Citi Rates CHINA OVERSEAS as Buy but Lowers TP to HKD14.2; Multiple Industry-Leading Strengths
Recommend 6 Positive 6 Negative 2 |
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CHINA OVERSEAS (00688.HK) saw a 19% YoY decline in attributable contract sales to RMB251.2 billion last year, which was considered an industry-leading level, according to a Citi research report. In Citi's opinion, CHINA OVERSEAS' advantage lies in its scale, with prime land reserves in core cities. The company's strong balance sheet also enables it to undertake large-scale integrated projects in key cities. CHINA OVERSEAS also boasts capital expenditure, sales and administrative expense ratio, and financing costs that are among the lowest in the industry. This year, it has RMB600 billion worth of saleable resources, focusing on launching projects in first-tier cities in 1H26 to maintain its leading sales performance. Citi has kept a Buy rating on CHINA OVERSEAS but reduced its target price from HKD17.2 to HKD14.2. This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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