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<Research> HSBC Research Raises CHINA RES LAND (01109.HK) TP to HKD37.7; Shenzhen Project Highlights Brand Execution and Pricing Power
HSBC Research said CHINA RES LAND (01109.HK) and China Merchants Shekou's Shenzhen "Guanchao" project recorded strong sales. Launched on Sun (26th), the project achieved subscripti...
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<Research> HSBC Research Raises CHINA RES LAND (01109.HK) TP to HKD37.7; Shenzhen Project Highlights Brand Execution and Pricing Power
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HSBC Research said CHINA RES LAND (01109.HK)  0.000 (0.000%)    Short selling $187.08M; Ratio 16.314%   and China Merchants Shekou's Shenzhen "Guanchao" project recorded strong sales. Launched on Sun (26th), the project achieved subscriptions exceeding RMB6 billion, with a sell-through rate of over 90%. The average selling price was approximately RMB140,000 per square meter, surpassing the brokers expectations and 10% to 20% higher than nearby secondary home prices. The broker believes the strong sales performance highlights CHINA RES LANDs brand execution and pricing power, supporting its positive view on the recovery of the property development business and providing earnings growth momentum for the remainder of the year.

HSBC Research maintained its Buy rating and TP of HKD37.7 on CHINA RES LAND. The broker expects high-profile projects in tier-one cities to account for about 31% of the companys contracted sales this year, with Shenzhen, Shanghai and Beijing contributing 12%, 11% and 8%, respectively. It noted that new projects typically deliver gross margins of at least high double digits. As CHINA RES LAND gradually raises selling prices, there is room for further gross margin expansion. The broker added that sustained strong sell-through rates and significant price increases in subsequent batches would reinforce the companys property development strength and support a solid earnings outlook. (fc/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-14 16:25.)

Related NewsBofAS: CN Property Mkt Still in Early Recovery; TPs Lifted for CHINA RES LAND, CHINA OVERSEAS, C&D INTL GROUP, YUEXIU PROPERTY

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