Shenwan Hongyuan: Yujiakeli Construction (00683.HK) target price of 26.4 Hong Kong dollars, first "buy" rating given.

According to the WiseFinance APP, Shenwan Hongyuan released a research report stating that they are giving a target price of 26.4 Hong Kong dollars for Kerry Properties (00683.HK), initiating coverage for the first time and giving a "buy" rating. The company's high-end residential development and high-quality IP leasing resonate together. Property development focuses on luxury homes, commercial real estate focuses on core cities, with significant future growth potential; financially stable, anchored by absolute dividends, high dividend yield. It is expected that the company's net profit attributable to the parent company in 2025-27 will be 17.5 billion, 16.2 billion, and 40.3 billion Hong Kong dollars, year-on-year growth rates of +116%, -7%, and +149%, respectively. The core profit attributable to the parent company will be 23.0 billion, 18.8 billion, and 39.6 billion Hong Kong dollars, with year-on-year growth rates of -11%, -18%, and +111% respectively; the P/E ratios will be 16, 18, and 7 times.