On September 4, CHINA RES MIXC rose 3.12% in regular trading, trading at 41.68 HKD/share, with turnover of approximately 88.78 million HKD.
The move follows the company's recently disclosed interim results showing H1 revenue of 9.217 billion yuan, up 8.1% year-over-year, with core net profit reaching 2.229 billion yuan, up 10.8%. Gross margin expanded from 37.1% to 38.0%. The company declared interim and special dividends totaling 0.977 yuan per share, achieving a 100% core net profit payout ratio. In-operation shopping centers recorded retail sales of 148.5 billion yuan, up 21.7% YoY, with overall occupancy at 97.4%.
Sentiment was further bolstered by multiple investment banks maintaining or upgrading positive ratings. Citi raised its target price to 53.3 HKD reiterating a buy rating, Morgan Stanley maintained overweight with a 48.06 HKD target, and CICC maintained its outperform rating at 48 HKD. Additionally, Vice President Wang Lei purchased 50,000 shares on September 1 at 38.52 HKD per share, signaling management confidence.
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