The Zhitong Finance and Economics APP learned that CMB International released a research report stating that Hysan Dev (00014) management highlighted the achievements of the company's transformation at the mid-term performance conference, and indicated that this year is the company's harvest period. The target price of the company has been raised from 10 Hong Kong dollars to 13 Hong Kong dollars, and the rating has been upgraded from 'Neutral' to 'Outperform'. It also mentioned that its shares are currently quite attractive.

The bank indicated that the growth momentum that Hysan is about to encounter includes the future opening of more phases of 'Lee Gardens' within the next 12 months; further improvement in the rental rate of the Shanghai office; the opening of the retail space in Shanghai's 'Lee Gardens'; the completion of the Mountain Path Project and full connection of the Lee Gardens area by 2026. The bank pointed out that the above developments should be sufficient to overcome any weaknesses in Hysan's Hong Kong office business.

In addition, considering Hysan's better rental income performance, CMB International has raised its profit forecast for the fiscal years 2024 to 2026 by 4.7% to 14.9%. It is believed that Hysan, with its refined customer mix and optimized shop layout, will become a hotspot for repeated visits by tourists and Hong Kong residents.