On July 16, China Resources Land rose 3.27% in regular trading, trading at HK$34.4/share, with turnover of approximately HK$97.14 million.

On the news front, Citibank recently initiated a 30-day positive catalyst watch on China Resources Land, maintaining a Buy rating with a target price of HK$43, implying significant upside from current levels. The bank noted that following 6% year-over-year sales growth in the first half, sales momentum is expected to accelerate further in July-August, supported by additional new project launches planned for the third quarter.

Operationally, the company reported cumulative contracted sales of approximately RMB 116.5 billion for the first half, up 5.6% year-over-year. Recurring revenue reached approximately RMB 26.47 billion, growing 7.6% year-over-year, with rental income from investment properties surging 12.6% to approximately RMB 17.87 billion. Morgan Stanley also named China Resources Land as its top sector pick, citing robust earnings prospects, attractive dividend yield, and mid-term revaluation potential.

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