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[Brokerage Focus] China Merchants maintains a "Strong Buy" rating on LONGFOR GROUP (00960) and expects the company's financial pressure to significantly ease by the end of 2025.
Jingwu Financial News | China Merchants' research report indicates that LONGFOR GROUP (00960) will see a decline in revenue and profits in 2024 mainly due to pressure from development business. The contribution of gross profit from Operation and service business has reached 70% and is growing steadily; in terms of development business, the company faces pressure on sales and land acquisition due to market downturn and public debt repayment pressure; regarding Operation and service business, the four major non-development business channels are growing steadily, with 11 shopping centers expected to open in 2025, the same as last year; on the debt side, the debt size is being reduced in an orderly manner, determining that 2025 may be the peak period for the company's interest-bearing liabilities (including public debts and overseas syndicate loans, etc.).
CRIC Real Estate Research: In March, the real estate market saw a steady year-on-year growth, with accelerated sales and a warming in the market despite reduced volumes.
On April 2, CRIC Real Estate Research published a report stating that in March 2025, the real estate market continues to stabilize after falling, with supply and demand gradually rebounding, month-on-month growth maintained, and transaction volume increasing by 4% year-on-year. Second-hand housing transactions continue to show volatility at a high level, with a month-on-month increase of 50% and a year-on-year growth of 21%.
The real estate market has increased support.
Consolidate stability.
Citi: Raised LONGFOR GROUP's Target Price to HKD 12.3, rating "Outperform".
Citi published a Research Report stating that LONGFOR GROUP (00960) had a basic profit of 6.97 billion yuan last year. The bank believes that the debt repayment plan for 2025 is feasible, and the company will subsequently shift its focus back to growth. The bank has raised the group's Target Price from HKD 11.6 to HKD 12.3, with a rating of "outperform the market."
Citi: Raised LONGFOR GROUP (00960) Target Price to HKD 12.3, rating "Outperform".
The bank believes that the debt repayment plan for 2025 is feasible, and the company will once again focus on growth afterwards.
The Central Finger Research Institute: The total amount of land acquired by the top 100 companies is 289.58 billion yuan, a year-on-year increase of 30.6%.
On April 1st, the China Index Academy released the TOP 100 national Real Estate companies' land acquisition rankings for January to March 2025.
