Daiwa Upgrades Yuexiu Property Target to HK$4.8, Citing Asset Sale Benefits

Stock News
05/08

Daiwa Capital Markets has issued a research report highlighting that Yuexiu Property has entered into a major connected transaction, selling four assets and one business line for a total consideration of RMB 4.691 billion. The deal is expected to generate a net income of RMB 108 million and net cash inflow of RMB 4.66 billion. Management stated that the divestment will optimize the investment portfolio, with all proceeds to be reinvested in residential land acquisitions and operations. The firm raised its target price for Yuexiu Property by 14.3% to HK$4.8, reflecting recent policy support and improved financial structure, while maintaining a "Buy" rating.

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