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<Research>BofAS: CN Property Mkt Still in Early Recovery; TPs Lifted for CHINA RES LAND, CHINA OVERSEAS, C&D INTL GROUP, YUEXIU PROPERTY
In its report, BofA Securities opined that the Chinese property market remains in the early stage of recovery. In April, Chinese residential contracted sales grew 18% YoY, while ti...
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<Research>BofAS: 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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In its report, BofA Securities opined that the Chinese property market remains in the early stage of recovery. In April, Chinese residential contracted sales grew 18% YoY, while tier-one cities also showed more signs of stabilization. As a result, the broker raised TPs for quality developers by an average of 13%.

Although the broker's previously non-consensus bullish view has gradually gained broader market recognition, overall investor positioning remains light, with many still questioning the sustainability of the recovery.

The broker's top picks are CHINA RES LAND (01109.HK)  +0.840 (+2.436%)    Short selling $421.93M; Ratio 19.493%   , CHINA OVERSEAS (00688.HK)  +0.480 (+3.170%)    Short selling $262.31M; Ratio 23.159%   and C&D INTL GROUP (01908.HK)  +0.900 (+6.048%)    Short selling $26.93M; Ratio 9.383%   . The broker is also positive on the property management sector, favoring CHINA RES MIXC (01209.HK)  +0.820 (+2.011%)    Short selling $85.73M; Ratio 23.865%   and GREENTOWN SER (02869.HK)  +0.040 (+0.911%)    Short selling $1.91M; Ratio 7.031%   .

BofA Securities raised the TP for CHINA RES LAND to HKD49 from HKD43, for CHINA OVERSEAS to HKD17 from HKD14.5, and for C&D INTL GROUP to HKD20 from HKD17.2, with all being rated Buy. It also lifted the TP for YUEXIU PROPERTY (00123.HK)  +0.190 (+4.545%)    Short selling $13.17M; Ratio 25.309%   to HKD5 from HKD4.6, maintaining a Buy rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-29 16:25.)

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