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[Brokerage Focus] Soochow Securities first rated Longfor Group (00960) as a "buy", pointing to its reasonable debt structure distribution and steady development of operating business.
Jinwu Financial News | According to Dongwu Securities Research, Longhu Group (00960)'s development business focuses on high-energy cities, with Tier 1 and 2 sales accounting for over 90%. As a leading integrated real estate developer in China, after more than 30 years of development, it has formed a “1+2+2” business model based on development, operation and service. According to the bank, the company's operating business revenue is stable, helping to cross the cycle: the company's operating business (operation+service) profit in 2023 contributed more than 60%, creating a new growth curve through the cycle. 1) The operating business is developing steadily. In 2023, Longhu Group's operating business (shopping malls, crown houses) was not
Soochow Securities Starts Longfor Group Holdings at Buy With HK$14.70 Price Target
01:21 AM EDT, 07/19/2024 (MT Newswires) -- Soochow Securities Starts Longfor Group Holdings at Buy With HK$14.70 Price TargetPrice (HKD): $10.76, Change: $-0.60, Percent Change: -5.28%
Abnormal movement observation | Mainland real estate stocks fell during trading, with basic factors improving but residence prices continue to decline.
On July 19th, during trading hours, mainland real estate stocks were in decline. As of press time, China RES Land (01109.HK) fell 5.20% to HKD 25.5. Longfor Group (00960.HK) fell 4.75% to HKD 10.82. Seazen (01030.HK) fell 4.46% to HKD 1.5. According to news from Futubull, despite a decline in trading volume in several cities in July, the CRIC monitoring data shows that, thanks to favorable policies from central to local government since May, the market is still in a bullish trend.
Soochow Securities: Initiated coverage on Longfor Group with a "buy" rating and a target price of HKD 14.7.
Soochow Securities released a research report stating that it has initiated coverage on Longfor Group (00960) with a 'buy' rating, predicting a net income attributable to the parent of 12.97 billion yuan, 13.14 billion yuan, and 13.39 billion yuan in 2024, 2025, and 2026, respectively, with a target price of HKD 14.7. The company has formed a '1+2+2' business model based on development, operation and services. The company's controlling stake is stable, and professional managers assist in the company's development. The management team is experienced. The development business focuses on high-energy cities, with sales in the first and second-tier cities accounting for more than 90%; operating business income is stable, helping to cross the cycle. Soochow Securities' main points of view are as follows:
Hong Kong Shares Fall, Tracking Wall Street's Losses -- Market Talk
Hong Kong shares are lower in early trade, tracking Wall Street's overnight losses. The U.S. stock market indices ended markedly weaker as the slide in technology shares spread and pressured small cap and financial shares, UOB analysts say in a commentary.
[Special Big V] Ye Shangzhi: Plate rotation needs better development.
On July 15th, Hong Kong stocks rebounded for two days and rose more than 800 points, followed by a decline. The phase balance was just recovered, but it is necessary to pay attention to the significant shrinkage of market liquidity, which is not conducive to a new round of rotation on the market. If the situation cannot be improved, it is estimated that there may be a potential impact on the subsequent market stability and driving force. The Hang Seng Index fell nearly 280 points and closed at the level of 18,000 points, while the trading volume of the entire market decreased to only over 90 billion yuan, a decrease of 23.7% compared to last Friday and lower than the standard level of an average of 109.6 billion yuan per day this year. From the market observation, on the
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