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<Research> Citi Cuts TP on COUNTRY GARDEN (02007.HK) and SUNAC (01918.HK); Sales Momentum Remains Weak
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Citi published a research report stating that COUNTRY GARDEN (02007.HK) has made progress in debt reduction and delivery obligations, but sales momentum remains weak and core profit margins are under pressure. Considering ongoing execution risks, potential impairments and limited growth prospects, the broker maintained its "Sell/High Risk" rating and lowered the TP from HKD0.29 to HKD0.25, representing a 70% discount to its 2026 forecast NAV per share of HKD0.83. For SUNAC (01918.HK), Citi noted that debt reduction and restructuring have eased short-term liquidity pressure, but sales remain sluggish (2025 contracted sales fell 22% YoY). The broker maintained its "Neutral/High Risk" rating and cut the TP from HKD1.59 to HKD1.2, representing a 70% discount to its 2026 forecast NAV per share of HKD4. (ad/da) Auto-translated by AI This article was automatically translated by AI, the original language 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. More Details
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