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Citi Adopts More Positive Stance on CN Developers; Top Picks Incl. BEKE-W/ CHINA RES LAND
2025-03-07 14:29:40
While earnings and margin pressures in the Chinese property sector may lead to profit warnings from property stocks by late February or March, the broker’s bearishness toward the industry has softened, Citi wrote in a research report.

Following the National People’s Congress, the broker has adopted a more positive stance on the sector, citing robust property sales in January and February; accelerated land repurchasing by local governments; and positive support signals reflected in the CHINA VANKE (02202.HK) saga.

Within the Chinese property sector, the broker’s top picks included BEKE-W (02423.HK), CHINA RES LAND (01109.HK), GREENTOWN CHINA (03900.HK), and C&D INTL GROUP (01908.HK).

Stocks | Target prices (HKD)
AGILE GROUP (03383.HK) | 0.98
C&D INTL GROUP (01908.HK) | 15.8
CIFI HOLD GP (00884.HK) | 0.27
CH OVS G OCEANS (00081.HK) | 2
CHINA OVERSEAS (00688.HK) | 13.9
COUNTRY GARDEN (02007.HK) | 0.3
CHINA RES LAND (01109.HK) | 32.7
GREENTOWN CHINA (03900.HK) | 11.73
R&F PROPERTIES (02777.HK) | 0.6
CHINA JINMAO (00817.HK) | 1.29
KWG GROUP (01813.HK) | 0.36
LONGFOR GROUP (00960.HK) | 11.4
MIDEA REAL EST (03990.HK) | 3.7
POWERLONG (01238.HK) | 0.49
SEAZEN (01030.HK) | 2.44
SHENZHEN INVEST (00604.HK) | 1.12
SUNAC (01918.HK) | 2.69
CHINA VANKE (02202.HK) | 7.8
YUEXIU PROPERTY (00123.HK) | 5.5
BEKE-W (02423.HK) | 60.72
GREENTOWN MGMT (09979.HK) | 3.55
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