C&D International Group (01908) experienced an intraday increase of over 4%. As of the time of writing, the stock price had risen by 3.06% to HK$14.49, with a trading turnover of HK$69.27 million.
Citigroup has released a research report initiating a 30-day positive catalyst watch on C&D International Group (01908). The bank views the company favorably, citing an acceleration in land acquisitions starting in June, including its first entry into the Qianhai area of Shenzhen. Concurrently, the sell-through rate of existing projects has improved, and product upgrades are driving sales growth. The report anticipates the launch of more new projects from September, which is expected to further propel sales. Citigroup has reiterated its "Buy" rating on the stock, maintaining a target price of HK$18.80, and considers it a top pick within the sector.
The report highlights that C&D International Group possesses a healthy land reserve structure, with 82% of its resources (approximately RMB 155 billion) acquired after 2022, which offers relatively favorable profit margins. Approximately 65% of its land reserves are located in core cities such as Xiamen, Shanghai, Beijing, Hangzhou, and Chengdu, with 36% of these added in 2025. Citigroup believes this provides a solid foundation for a recovery in gross margins. The bank forecasts the company's full-year 2026 sales to reach around RMB 130 billion.
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