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UBS Group: Maintains KERRY PPT 'Buy' rating and raises Target Price to 20.1 HKD.
UBS Group released a Research Report stating it maintains a "Buy" rating on KERRY PPT (00683), with the Target Price raised from 18.8 HKD to 20.1 HKD. The first phase of the large Residence project "Jinling Huating" on Jinling Road in Huangpu District, Shanghai, is about to be launched, with an estimated project value reaching 22 billion RMB. Considering its expected selling price and scarcity, it is believed that the sales absorption rate could reach 90%, which is expected to drive the company's Asset net value re-evaluation, correspondingly adjusting KERRY's per-share Asset net value (NAV) forecast up by 7%. It is anticipated that if the project is sold, the inflow of funds could reduce the group's net debt ratio from 40% to 20%.
UBS Group: It is expected that national prices of domestic properties will stabilize early next year, with a preference for regional state-owned real estate companies.
The bank expects that nationwide property prices will stabilize in early next year, raising the sales forecast for new properties this year and next by 7% to 16%, while the forecast for existing property sales is raised by 7% to 10%.
KERRY PPT (00683.HK) plans to hold a Board of Directors meeting on March 19 to approve the annual performance.
Gelonghui, March 4th丨KERRY PPT (00683.HK) announced that the company will hold a Board of Directors meeting on March 19, 2025 (Wednesday), to approve the full-year performance announcement and its release for the financial year ending December 31, 2024, and to consider the distribution of a final dividend (if any).
KERRY PPT: Date of Board Meeting
Market Chatter: Kerry Properties Sells Out 250 Units in Yuen Long Project; Shares Rise 5%
After five consecutive weeks of decline, the Meilian real estate price Index has stabilized, with the confidence Index reporting 64.5 points, a decrease of 2.4% month-on-month.
"The Hong Kong Property Price Index" latest reports at 127.49 points, slightly rising by 0.02% month-on-month, stabilizing after five weeks of decline; however, compared to four weeks ago, the Hong Kong Property Price Index still dropped by 0.95%, and so far this year has recorded a decrease of about 0.5%.
