Lyon: Wharf Real Estate (01997.HK) reported better-than-expected results for the first half of the year, and the significant increase of the dividend payout ratio to 90% is a pleasant surprise.

According to the Zhitong Finance APP, Credit Lyonnais has released a research report stating that it maintains its "Outperform" rating for Wheelock Properties (01997.HK) and a target price of HKD 40. This target price represents a 38% discount to the estimated net asset value of HKD 64.60 for 2026, which is one standard deviation narrower than the five-year average discount.