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<Research>CLSA: CHINA VANKE (02202.HK) May Benefit from Policy Support; Property Mkt Projected to Stabilize in 2H25
Recommend 3 Positive 6 Negative 4 |
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CHINA VANKE (02202.HK) issued a profit warning expecting to record a loss of RMB45 billion in 2024, 160% higher than CLSA's loss forecast, according to CLSA's research report. However, the broker believed that the takeover of CHINA VANKE by the management of a Shenzhen SOE would be positive for the Company, as it would strengthen the Shenzhen government's control over CHINA VANKE, thereby reinforcing its status as a SOE and getting more support from state-run financial institutions. This will help CHINA VANKE to sell its assets and refinance at a relatively reasonable price to generate cash. CHINA VANKE will benefit more from the supportive policies and CLSA's forecast for stabilization of China's property market in 2H25. Therefore, the broker kept rating at Outperform. AAStocks Financial News |
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