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KERRY PPT: Annual Report 2024
Bloomberg: The completion volume of private residential buildings in Hong Kong reached a four-year low in the first two months of this year and is expected to experience a Top Reversal.
According to the data from the research center of Midland Realty and the Buildings Department, the number of private Residence completions in Hong Kong in February recorded a total of 1,624 units, which is a month-on-month decrease of about 13.9% compared to January's 1,886 units, marking a decline for two consecutive months and reaching a new low in five months.
Private Companies Are Kerry Properties Limited's (HKG:683) Biggest Owners and Were Rewarded After Market Cap Rose by HK$755m Last Week
In March, the total value of property sale and purchase agreements in Hong Kong was 45.6 billion HKD, which is a month-on-month increase of 61.4% and a year-on-year increase of 22.1%.
In March, the total value of property sales contracts in Hong Kong was 45.6 billion Hong Kong dollars, an increase of 61.4% compared to February, and also up 22.1% compared to March last year.
Kerry Properties (KRYPF) Receives a Buy From DBS
Morgan Stanley: Cuts KERRY PPT Target Price to HKD 16, rating "In line with the market."
Morgan Stanley released a research report stating that KERRY PPT (00683) recorded growth in contract sales and Real Estate sales in the mainland, mainly driven by residential projects in Hangzhou and Tianjin. The bank has raised the group's gross profit forecast for the fiscal years 2025 and 2026 by 17% and 25%, respectively. However, the bank lowered the group's earnings per share estimates for 2025 and 2026 by 7% and 14% to reflect the increase in net financial costs and the higher land value tax imposed on mainland developers, with the Target Price accordingly slightly reduced from HKD 17 to HKD 16, maintaining a rating of "in line with the market."
