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<Research> HSBC Research Lowers TP for GREENTOWN CHINA (03900.HK) to HKD9.5, Maintains 'Hold' Rating
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HSBC Research published a report stating that GREENTOWN CHINA (03900.HK) experienced a 96% year-on-year drop in net profit last year, which was largely anticipated by the market. This was mainly due to higher minority interests and losses from joint ventures. The management holds a cautious view on sales and land investment for this year, expecting the stock price to remain range-bound in the short term. Potential catalysts include a recovery in sales in the second quarter, stabilization of housing prices in first-tier cities, and acquisition of quality land. Considering the slowdown in sales and revenue recognition, HSBC Research has lowered its revenue forecasts for GREENTOWN CHINA for 2026 and 2027 by 5% and 14%, respectively. The gross margin forecast has been reduced by 1 and 1.2 percentage points, and the profit forecasts for the same periods have been cut by 78% and 55%. The target price has been revised down from HKD11.8 to HKD9.5, maintaining a 'Hold' rating. (ec/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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