Credit Suisse maintained an outperforming market rating for Hang Seng Properties (0845.HK), with a target price of HK$2.64. According to Credit Suisse, Hengsheng Real Estate's contract sales in August increased 21% and 65% month-on-month and year-on-year, respectively, to RMB 1.1 billion. Credit Suisse said it expects the company's sales to continue to grow in the coming months as more new projects are launched soon. Credit Suisse said that the company's chairman bought back 10 million shares of the company's shares on August 31 at a purchase price of HK$1.481; the bank expects that the chairman has bought back shares many times, showing his confidence in the company. Credit Suisse expects the current price of the stock to be discounted by 68% compared to its expected net asset value per share, and the discount margin exceeds that of peers. According to current valuations, Credit Suisse believes the stock has a high risk-reward ratio. The stock closed at HK$1.44 for the full day.