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<Research>M Stanley Expects CHINA RES LAND (01109.HK) to Record RMB3B+ Gain in 1H26 from Sale of Stake in Chengdu MixC; Rating Overweight
Recommend 7 Positive 9 Negative 3 |
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CHINA RES LAND (01109.HK) announced the sale of a majority stake in its wholly-owned Chengdu MixC mall (valuation yet to be determined), marking another milestone in the Company's transformation process, Morgan Stanley published a research report saying. The broker estimated that Chengdu MixC's gross floor area to be 287,000 square meters, with a valuation of approx. RMB7-8 billion, comparable in scale and value to the Mixc Qingdao sold in 2024. Assuming a sale of a 70% stake at such valuation, Morgan Stanley expected the Company to record disposal gains of over RMB3 billion in 1H26, which would help enhance visibility on EPS and dividend growth. Therefore, the broker rated CHINA RES LAND at Overweight, with a target price of $39.3, and maintained the stock as its top pick. Auto-translated by AI AASTOCKS Financial News |
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