According to the Zhitong Finance APP, Link REIT (00823) fell more than 4%, as of press time, it fell 3.98%, to HKD 32.55, with a turnover of HKD 322 million.

CICC released a research report stating that Link REIT's performance for the fiscal year ending March 2024 is in line with market expectations. Although the sales growth of the company's Hong Kong retail merchants in the 2024 fiscal year is better than the overall market trend, with the increase in Hong Kong people's consumption in the mainland, the sales growth rate in the second half of the fiscal year has slowed down year-on-year. Looking ahead, the bank believes that supermarkets and other formats that are more affected by the mainland may face longer-term challenges, and it is recommended to pay attention to the impact of changes in consumer trends on performance.

The bank stated that considering the performance of Hong Kong retail properties tending to be weak, it lowered Link REIT's forecast for DPS in the fiscal year of 2025 by 4% to HKD 2.57, and introduced a forecast of HKD 2.57 for the fiscal year of 2026. Maintaining the "outperform the industry" rating, it lowered the target price by 15% to HKD 40, mainly reflecting the adjustment of profit forecast and more cautious judgment of medium and long-term profit ability.