Glonghui, Feb. 29 | UBS published a research report showing that Sun Hung Kai Properties' mid-term core profit for the 2024 fiscal year fell 6% year-on-year to HK$8.9 billion, 7% lower than UBS's estimate. The medium-term interest rate was HK$0.95 per share, down 24% year-on-year, and lower than the bank's forecast of HK$1.15. The report mentioned that when formulating a conservative medium-term dividend payment policy, the positive impact of the complete withdrawal of the budget was not taken into account, but it is anticipated that residential property prices will rise moderately by 5% to 10% this year. SHKP also emphasized that it will strictly abide by the financial management policy and aim to maintain a net balance ratio of less than 20%. UBS expects a negative reaction to the stock price after the announcement of the results, lowering the target price to HK$80, a 55% discount from the net asset value per share, and to lower the profit forecast for the 2024 fiscal year by 9% in response to delays in the sale of Hong Kong residential projects, and increase the earnings forecast per share for the 2025 to 2026 fiscal year by 4%, respectively.