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<Research>CLSA Drops CHINA RES LAND (01109.HK) TP to $34.1 as Earnings Structure Resilience Emerges
Recommend 3 Positive 4 Negative 0 |
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CHINA RES LAND (01109.HK) announced a decline in its 2025 underlying earnings due to reduced disposal gains, according to CLSA's research report. However, the growth in recurring business profit offset the decline in property sales profit. This year, recurring earnings surpassed property sales profit, and the broker believed that this profit structure has become more balanced, potentially representing a new normal. As the negative financial impacts from real estate development gradually fade and recurring business continues to grow, the broker expected the Company's earnings outlook to remain robust with the spin-off of more mall businesses. CHINA RES LAND remains its top pick among quality developers and landlords. CLSA dropped its target price from $35.4 to $34.1 with rating kept at Outperform. AASTOCKS Financial News Website: www.aastocks.com |
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