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Research Report

02/01/2020 12:37

{I-bank focus}High-teens growth seen for Chinese developers

[ET Net News Agency, 2 January 2020] Jefferies Research cited CRIC's (China Real Estate
Information Corp) data showing that major Chinese developers achieved 22% year-on-year
sales growth on average in December, supporting full-year sales to grow 28% and implying a
104% completion rate of their targets.
Although the overall sales growth will likely soften in 2020 on a higher base, the
research house believes the top-30 developers will deliver high-teens % y-y growth on
average, with quality mid/small caps continuing to outperform (20-30%) as key market
Jefferies remains bullish on the China property sector on a 12-month horizon and
believes quality mid-caps will continue to outperform on sales and earnings growth. It
favors developers with rich and low-cost saleable resources in T1/2 cities, and with
strong execution. (KL)

Remark: Real time quote last updated: 21/02/2020 17:59
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