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| HSI1 | 24,175.12 | +144.94 | 339.59B |
| HSCEI1 | 8,039.19 | +41.90 | 95.13B |
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2026-07-10 15:08:54 Citi issued a research report expecting interim results of Hong Kong property stocks to improve in 1H26, on the back of development property margins recovering from 3%-8% in 1H25 to an expected 13%-18%; revenue recognition backed by strong sales; positive rental reversions across China retail; and improved financing costs due to lower debt. The broker expected dividend growth for SWIREPROPERTIES (01972.HK) and Hongkong Land, while SHK PPT (00016.HK) and CK ASSET (01113.HK) were expected to distribute dividends based on EPS growth under preset payout ratios. The broker favored stocks with improving cash flow and enhanced shareholder returns, with top picks including SWIREPROPERTIES, SHK PPT, CK ASSET and LINK REIT (00823.HK). Regarding earnings forecasts, Citi expected HENDERSON LAND (00012.HK) to record more than 30% earnings growth in 1H26. Earnings of SWIREPROPERTIES were forecast to rise about 30% YoY to around HKD4.5 billion. SHK PPT's earnings for FY2026 were predicted to grow 3%-6% YoY, while CK ASSET's earnings were estimated to mount 2%-3% YoY and return to a net cash position. HANG LUNG PPT (00101.HK)'s net profit was projected to hike 4%-7%, while earnings of WHARF HOLDINGS (00004.HK), SINO LAND (00083.HK) and HYSAN DEV (00014.HK) were measured to remain stable. In addition, Citi estimate that KERRY PPT (00683.HK) may record an interim earnings decline as revenue booking and margin recovery are concentrated in 2H26, while NEW WORLD DEV (00017.HK) was foreseen to post a loss. On dividends, Citi expected SWIREPROPERTIES, SHK PPT and CK ASSET to all record dividend growth of 2%-3%. Please refer to the separate table for TP and ratings details. ~ AASTOCKS Financial News Website: www.aastocks.com | |