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<Research>G Sachs Cuts LONGFOR GROUP (00960.HK) TP to $8.6, Expects Continued Pressure on DP Biz
Recommend 1 Positive 1 Negative 2 |
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LONGFOR GROUP (00960.HK)'s FY2025 core net loss was RMB1.7 billion, in line with its profit alert, mainly due to a core net loss of RMB9.6 billion in its DP business, with a core profit margin of negative 14%, reflecting a sharp decline in revenue and gross profit margin, Goldman Sachs released a research report saying. The broker believed that LONGFOR GROUP has reached a deleveraging milestone, and expected the debt maturity pressure for 2026 and beyond to be well managed. Cash flow management also remained constructive, with net operating cash flow (including capital expenditure) reaching RMB5.8 billion, marking a positive inflow for the third consecutive year, primarily benefiting from strict compression of land capital expenditure. Therefore, Goldman Sachs cut its target price for LONGFOR GROUP from $9.9 to $8.6, with rating kept at Neutral. AASTOCKS Financial News Website: www.aastocks.com |
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