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<Research>HSBC Research Prefers CHINA RES MIXC; Property Managers Facing Cash Flow Challenges
Recommend 7 Positive 11 Negative 2 |
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HSBC Global Research has published a report indicating a preference for CHINA RES MIXC (01209.HK) among property managers. The company was rated as Buy. In light of slowed growth, HSBC Global Research has adjusted its forecasts and target prices for A-LIVING (03319.HK), CG SERVICES (06098.HK), and SHIMAO SERVICES (00873.HK) (see separate table). In the broker's opinion, stable recurring income has always been a core advantage for property managers, and dividend visibility is crucial for stock prices. After the disclosure of their 1H25 results, however, these advantages have deteriorated. Specifically, A-LIVING's stock price turned south due to increased cash flow pressure as indicated by its results. The broker further pointed out that all property managers are facing escalating accounts receivable risks, and that the negative impact of deteriorating housing quality over the past decade is becoming evident, posing headwinds for property managers to maintain resident experience while controlling related costs. AAStocks Financial News |
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