Movement Alert|CHINA RES LAND Rises 3.43% in Regular Trading, Hong Kong Project Oversubscription and Bullish Broker Views

Market Focus
5 hours ago

On October 8, CHINA RES LAND rose 3.43% in regular trading, trading at HK$30.78/share, with turnover of HK$248 million.

The move was driven by strong sales at its Hong Kong Southwest Kowloon project, which achieved over 249 times oversubscription in the second round and cumulative proceeds of HK$8.04 billion. Multiple major banks recently maintained buy ratings, with UBS highlighting recurring business value of around HK$27 per share and Goldman Sachs raising its target to HK$38.8. Core net profit for the first half was RMB10.16 billion, up 1.6% year-on-year, while recurring revenue accounted for 33.3% of total revenue.

CHINA RES LAND is an investment holding company mainly engaged in property development and sales, covering development sales properties, rental of investment properties, and asset-light management services.

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