UOB Kay Hian maintained its "Hold" rating on CHINA RES MIXC (01209) while increasing the target price from HK$41.1 to HK$43. The firm predicts that CHINA RES MIXC's core net profit will grow by 12.2% year-on-year in 2025, with revenue expected to increase by 6.8%. However, revenue from the property management segment is anticipated to grow by only 1.4%, dragged down by a significant contraction in value-added service revenue. In contrast, revenue from the commercial operations business is estimated to have grown by 16.8% last year, driven by shopping center revenue growth. Considering the ongoing pressure on the value-added services business, the firm has lowered its profit forecasts for CHINA RES MIXC for 2025 to 2027 by 3.4%, 6.4%, and 7.2%, respectively.
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