0841 GMT - Yuexiu Property's plans to sell some of its assets for about 4.69 billion yuan, or roughly $690 million, is likely to sharpen its focus on its core residential-development property business, UOB Kay Hian says in a note. The deal is likely to generate a net gain of around 108 million yuan, analysts Damon Shen and Jieqi Liu say. They lift their estimates for Yuexiu's 2026-2028 core net profit by 0.6%-34%. The company said the disposal is poised to optimize the Hong Kong-listed property company's portfolio, with proceeds to be fully reinvested into residential land acquisition and operations, the analysts add. UOB Kay Hian raises its target price to HK$4.80 from HK$4.20 and maintains a buy rating. Shares closed 2.4% higher at HK$4.65. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

May 11, 2026 04:41 ET (08:41 GMT)

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