The Zhitong Finance App learned that Morgan Stanley released a research report stating that it gave CNOOC Properties (02669) an “increased” rating, with a target price of HK$6.71. The company stated that it will evaluate the 2024 dividend policy and consider increasing the dividend ratio based on operating performance. Shares have already been repurchased after the 2023 results. As of April 12, a total of HK$12.4 million had been spent, and a total of 1.9 million shares had been repurchased.

According to the report, according to the company's management guidelines, the compound annual growth rate for 2024-2026 is 15% to 20%, and the dividend payout ratio may be increased. The guidelines for the next three years have also been updated: including key operating indicators (revenue, profit, managed floor area), will grow at a compound annual rate of 15-20% in 2024-2026. Given the company's third-party expansion since 2021, Damo believes the goal is attainable. The profit growth target is also 9% higher than the industry average, which is close to the 17% average for state-owned enterprises.