On September 2, GREENTOWN CHINA fell 5.01% in regular trading, trading at HKD 5.775 per share with turnover of approximately HKD 71.70 million, hitting a fresh 52-week low.
The decline was driven by weak interim results and a bearish brokerage call. The company reported first-half revenue of approximately RMB 39.48 billion, down 26.02% year-over-year, while profit attributable to owners plunged 61.07% to just RMB 81.72 million. Gross margin contracted 2.3 percentage points to 11.1%, with property development margin falling to 9.7%. The company also booked RMB 1.91 billion in asset impairment and fair value losses during the period.
Morgan Stanley maintained an Underweight rating, cutting its target price from HKD 7.15 to HKD 6.82, citing persistent destocking pressure, below-expectation development margins, and slow revenue recognition. The bank lowered core profit forecasts for fiscal years ending in the next two years by 14% and 13% respectively, estimating over 80% probability of further price decline within 30 days. Recent policy changes have added short-term funding pressure on developers, with the stock accumulating over 20% in losses over two trading sessions.
(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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