The Zhitong Finance App learned that Henderson Land (00012) rose nearly 4%. As of press release, it had risen by 3.91% to HK$23.9, with a turnover of HK$130 million.

According to the news, Henderson Land announced its 2023 annual results, with a turnover of HK$27.57 billion, an increase of 7.9% over the previous year. Net profit of HK$9.261 billion, up 0.24% year over year; earnings per share were HK$1.91. A final dividend of HK$1.3 was paid. Together with the interim dividend, a cumulative total of HK$1.8 was paid throughout the year, the same as the previous year. Underlying profit for the period was HK$9.706 billion, up 0.8% year over year. Bank of America Securities pointed out that Henderson Land's core business remained consistent in 2023. Apart from keeping dividends unchanged, the dividend yield was also slightly higher than the industry average.

Furthermore, Bank of America Securities believes that Henderson Land, as the largest owner of agricultural land in Hong Kong, is expected to receive revenue of about HK$5 billion in the future. Under the accelerated pace of land acquisition, it will confirm a profit before tax of about HK$4 billion, increasing earnings per share by 10% to 15% from 2024 to 2026. The target price was raised from HK$24 to HK$27.5, and the rating was raised from “neutral” to “buy”.