[ET Net News Agency, 6 December 2019] CICC Research lifted its target price for KWG
Property Holding (01813) by 26% to HK$11 and maintained its "outperform" rating.
The research house expects sustainable sales growth at KWG. CICC thinks the firm will
safely achieve its 2019 sales target of Rmb85bn (+30%). It projected Rmb190-200bn of total
saleable resources in 2020 to deliver sales of around Rmb110bn (+30% YoY).
CICC thinks the potential inclusion of three en-bloc offices and over HK$20bn of
resources in Hong Kong could lend support to product supply in 2020. It estimated core net
profit of Rmb4.9bn in 2019 (+30%) and Rmb6.3bn in 2020 (+26.5%), and the firm may continue
to achieve solid growth of around 25% in 2021. (KL)