On September 4, GREENTOWN CHINA rose 5.42% in regular trading, trading at 6.295 HKD/share, with turnover of approximately 26.08 million HKD. The stock had previously fallen over 20% following weak interim results and a Morgan Stanley target price cut, briefly hitting a 52-week low.
On the news front, the company recently signed a strategic cooperation agreement with CCCC Investment, covering property development, debt resolution coordination, urban renewal, asset revitalization, and overseas operations. Meanwhile, Shanghai's second-hand housing market recorded over 20,000 transactions for six consecutive months, boosting overall market sentiment and triggering a broad rally across mainland property stocks. Within the Real Estate Development sector, LONGFOR GROUP surged 8.14%, SUNAC rose 5.36%, CHINA OVERSEAS gained 2.2%, and HENDERSON LAND added 2.38%, with sector-wide momentum helping drive GREENTOWN CHINA's oversold rebound.
For context, the company reported interim revenue of approximately 39.48 billion yuan, down 26% year-on-year, with attributable profit of just 81.7 million yuan, a 61% decline. Morgan Stanley maintained an underweight rating with a reduced target price of 6.82 HKD, citing persistent destocking pressure and slower-than-expected earnings recovery.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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