DBS has published a research report stating that HANG LUNG PPT (00101) remains attractively valued, particularly for long-term investors seeking exposure to China's premium mall sector. The bank expects that any further consumption stimulus policies from authorities could enhance the stock's investment appeal. DBS maintains its "Buy" rating while raising the target price from HK$9.38 to HK$10.

DBS views Hang Lung as a leading commercial property developer in China, holding a portfolio of commercial properties for long-term investment purposes. The bank anticipates rental growth driven by improving tenant sales performance and portfolio expansion, with lease renewal rental adjustments showing an upward trend.

The report highlights that overall tenant sales at Hang Lung's mainland China malls grew 10% year-over-year in the third quarter of 2025, primarily driven by Plaza 66 in Shanghai. Wuhan Hang Lung Plaza's sales performance has also stabilized. Additionally, Hangzhou Hang Lung Plaza will gradually open, with the office tower and mall portions set to commence operations in phases starting this year and the second quarter of next year respectively. Pre-leasing rates have reached 27% and 83% respectively, which is expected to support rental income growth in the coming years.