Goldman Sachs released a research report on SANDS CHINA LTD (01928.HK) -0.160 (-0.840%) Short selling $144.64M; Ratio 38.079% , of which 2Q25 results conformed with expectations, with adjusted EBITDA growing 3% QoQ to USD559 million. The mass performed better than expected, with mass GGR adding 7% QoQ, with premium mass lifting 5%, and slot revenue rising 11%, offsetting a 20% QoQ decline in VIP rolling.The management revealed recent concerts continued to attract high-end customers, and there has been a recovery in basic mass customers from Guangdong Province making same-day trips, with visitor numbers hiking 40% and 43% YoY in April and May, respectively. Related NewsCiti: MGM CHINA (02282.HK) Continues Strong Biz Trend; TP Added to $18, Rating Kept at BuyThe group aims to raise annualized EBITDA from the 2Q25 range of USD2.2-2.3 billion to a range of USD2.6-2.7 billion and plans to gradually increase dividends. Goldman Sachs adjusted its EBITDA forecast for Sands from 2025 to 2027 by -2% to +1% and slightly lowered the target price from HKD21.7 to HKD21.5, maintaining a Buy rating. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-08-01 16:25.)