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00207 JOY CITY PPT
RTNominal unchange0.240 0.000 (0.000%)
Research Report

02/09/2019 17:23

{I-bank focus}HSBC cuts Joy City Property (00207) to HK$1.1

[ET Net News Agency, 2 September 2019] HSBC Global Research lowered its target price
for Joy City Property (00207) to HK$1.1 from HK$1.5 and maintained its "buy" rating.
The research house said Joy City reported a strong set of 1H results. Gross profit
margin remained at a high level at 53.1%. HSBC likes Joy City on the basis of its unique
market positioning in retail malls where the company has demonstrated a strong execution
track record.
The stock has corrected 30% since April and is currently trading at a 75% NAV discount.
HSBC said the opportunity to strategically cooperate with COFCO Property presents a unique
edge for future growth and a potential share price catalyst. (KL)

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