Bank of America Securities released a research report stating that major mainland property management companies under its coverage achieved 8% revenue growth in the first half of this year, with core profit growth at a similar pace. While the growth rate remains relatively stable, the firm believes investors are more concerned about fee collection and operating cash flow conditions. The firm noted that non-state-owned enterprises are more proactive in adapting to industry changes, but strategic adjustments require time.

Bank of America Securities indicated that in the first half, industry participants performed better than expected in profit margin and operating cash flow management. However, given that fee collection issues are difficult to resolve in the short term, the firm remains cautious about the sector.

CHINA RES MIXC (01209) is Bank of America's only "buy" recommendation in the sector, with the target price raised from the previous HK$44 to HK$45, remaining the firm's top industry pick.

Bank of America Securities slightly lowered industry earnings forecasts due to the rapid rise in impairment losses at Chinese real estate property management companies. For CG SERVICES (06098), although earnings conditions remain unstable, the firm raised the target price to HK$6.3 due to relatively stable dividend prospects while maintaining an "underperform" rating. The firm also lowered earnings forecasts for CHINA OVS PPT (02669) and reduced the target price to HK$5.2.