[ET Net News Agency, 23 August 2019] Daiwa Research lowered its target price for Colour
Life Services Group (01778) to HK$5.1 from HK$5.8 and maintained its "outperform" rating.
The research house said Colour Life saw lower total debt (-28% from end-2018) and
finance costs (-30%) in 1H. The company plans to raise its target platform service area in
2020 to 2.5bn square meter from 2bn square meter previously.
In July, it announced share placements to JD.com and 360.com. Daiwa cut its 2019-21 net
profit by a larger magnitude of 5-15% on lower gross margin forecasts for its property
management and engineering services. (KL)