On August 12th, DBS published a report indicating that SHK PPT is a leading Hong Kong property developer with strong exposure in various sub-industries. The company is the largest local residential builder and holds a large amount of agricultural land reserves, believed to benefit from the development of the northern metropolitan area. The company also has a strong investment property portfolio, mainly including office and retail properties in Hong Kong and the Mainland, which can provide recurring rental income. The bank pointed out that after the cooling measures in the property market, the market sentiment has improved and the company will sell residential properties worth approximately HKD 15 billion in the second half of the 2024 fiscal year. In addition, the bank believes that potential interest rate cuts should help boost market sentiment, and if the residential properties planned by SHK PPT are well received, it should help push the stock price even higher. The bank rated SHK PPT as "buy" with a target price lowered from HKD 111.6 to HKD 94.45.