The Zhitong Finance App learned that Bank of China International published a report, raised the net asset value forecast of Xuhui Holding Group (00884) from $9.9 to $10.72, and raised the target price from HK$6.96 to HK$7.5, maintaining the “buy” rating. As of press release, Xuhui rose 3.17% to HK$6.5, with a turnover of HK$81.34 million. The stock price reached a new high of nearly a year and a half.

The bank believes that the company is expected to achieve its sales target in 2019. The annual sales volume is expected to reach 200 billion yuan, exceeding the target by about 5%. Bank of China International learned that in the first 10 months of this year, Xuhui spent 61.1 billion yuan to purchase land storage, and purchased about 12.42 million square meters of new land storage, which should account for 8.83 million square meters of construction area. The average equity share reached 71%, which is higher than about 50% of its current land reserves.