The Zhitong Finance App learned that DBS released a research report stating that it maintains Changshi Group's (01113) “buy” rating and that the target price was lowered from HK$47.3 to HK$46.9.

According to the report, the Group's net profit for fiscal year 2023 was 17.3 billion yuan, which is roughly in line with expectations, while the final interest rate fell 12.4% to 1.62 yuan, lower than expected. The company's Wong Chuk Hang Station project Blue Coast is about to go on sale, and the company believes that the long-term value of the company is good.

The bank said that Changshi has a solid foundation for medium-term profit growth, while in other areas, the company has diversified its recurring revenue base, including bars and operating infrastructure, which also indicates that its valuation is very attractive.