Glonghui, January 23 | Morgan Stanley issued a technical opinion report. It is expected that China Resources Land's stock price will rise within the next 30 days, and 70% to 80% chance will occur. Recent stock price adjustments have made short-term valuations more attractive. It is believed that the market is too concerned about the pressure on Rundi's gross margin and leasing prospects. The company has high-quality land reserves, and the price reduction range is limited, so that the pre-sale gross margin can be maintained at a ten-digit high level, and the risk of asset impairment is manageable. On the other hand, Rundi's rent renewal increased last year, and is capable of selecting high-quality tenants. It is also planning to add new shopping malls, which will support a 15% to 20% increase in rental income this year. After recent stock price adjustments, the valuation is equivalent to 4.9 times the projected price-earnings ratio for this year. The dividend rate last year and this year was 7% to 8%, which is a stable level. The bank maintains its “plus holdings” rating and target price of HK$44.1 to Runland.