＜Research＞G Sachs Slightly Trims CHINA RES LAND (01109.HK) TP to $34.5, Lowers EPS Forecast

　　Goldman Sachs wrote in a report that in light of CHINA RES LAND (01109.HK) -0.750 (-2.698%) Short selling $105.72M; Ratio 21.329% 's latest land bank situation and contracted sales performance, it has lowered the company's 2024/25/26 EPS forecast by 1%, 2% and 2% respectively, and lowered its target price for the next 12 months by 2% to $34.5. The broker considered the adjustments minor and maintained its Buy rating.

　　Goldman said its target price reflected a 20% discount to CR LAND's estimated net asset value (NAV) by the end of this year, and the current price is equivalent to a 38% discount to NAV, 6.8x 2024 projected P/E ratio, and 0.8x projected P/B ratio. The company's long-term growth prospects remained positive in the broker's view, benefiting from its industry-leading position, strong balance sheet and sizeable land bank in first and second-tier cities.

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　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-12 16:25.)

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