Re: China Overseas Land 0688
Posted: Mon Apr 03, 2023 10:12 am
not vested
China Overseas Land & Investment Ltd
Ambitious sales growth of 20% for FY23F
COLI’s FY22 results was disappointing with core profit down 28% (below our estimate by 21%) on weaker-than-expected revenue and GPM.
Management guided for an ambitious sales target growth of 20% for FY23F on the company’s high proportion of sellable resources in top-tier cities.
Reiterate Add, with a lower NAV-based TP of HK$24.0.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 2F96F221D9
China Overseas Land & Investment Ltd
Ambitious sales growth of 20% for FY23F
COLI’s FY22 results was disappointing with core profit down 28% (below our estimate by 21%) on weaker-than-expected revenue and GPM.
Management guided for an ambitious sales target growth of 20% for FY23F on the company’s high proportion of sellable resources in top-tier cities.
Reiterate Add, with a lower NAV-based TP of HK$24.0.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 2F96F221D9