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<Research>M Stanley Expects CN Property Managers' 2025 Results Largely In Line, Highest Profit Growth for CHINA RES MIXC, GREENTOWN SER
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Morgan Stanley released a research report predicting that the last year's results of the Chinese property managers under its coverage should meet expectations broadly, with profit growth in low single digits, and an increased differentiation.

Among the companies covered, GREENTOWN SER (02869.HK) and CHINA RES MIXC (01209.HK) are expected to achieve the highest profit growth (up 10-15% YoY), followed by POLY PPT SER (06049.HK) and CHINA OVS PPT (02669.HK) (mid-single-digit growth). CG SERVICES (06098.HK) and SUNAC SERVICES (01516.HK) may still face a decline in core profits, dented by overhang of past project receivables and drag of non-core business. However, except for ONEWO (02602.HK), the impairment risk from related parties was largely eliminated.

Related NewsJPM Expects Continual Weakness in CN Property Developers in 2025 Results, Prefers CHINA RES LAND & CHINA JINMAO

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