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China Merchants Shekou to Complete Bond Principal, Interest Payment
Lyons: Housing prices in mainland China's first-tier cities have stabilized; remains optimistic on companies such as China Resources Land (01109).
Lyon assigned a target price of HK$42.40 to China Resources Land, HK$2.43 to China Jinmao, and HK$5.50 to Yuexiu Property, all with an 'Outperform' rating.
China Merchants Shekou (001979): Sales grew against the market trend in the first half, but declining settlement gross margins weighed on performance.
Sales revenue increased year-over-year, but carried-over performance faced pressure; maintain "Buy" rating. China Merchants Shekou released its 2026 interim earnings guidance, indicating profit pressure, year-over-year growth in sales revenue, investment focus on core cities, and continuously declining financing costs. Affected by the property
China Merchants Shekou's H1 Profit to Drop Up to 65%
China Merchants Shekou (001979) Company Note on '2026 Interim Earnings Guidance': Sales Growth Reinvigorated as Low-Margin Projects Are Accelerated Off the Books
Report Summary: The company's net profit has been temporarily affected by factors such as the low gross margin on carried-over projects. However, sales performance is gradually improving, and the accelerated resolution of historical issues will support a renewed outlook for the company. We maintain an "Outperform" rating. Key Investment Points: Investment Recommendation
China Merchants Shekou: 2026 Semi-Annual Performance Forecast