HSBC Global Research report stated that shk ppt (00016.HK) recorded a 9% year-on-year decline in underlying profit for the full year ending in June 2024. It is expected that its underlying profit for the 2025 fiscal year will rebound by 19% year-on-year. It is considered one of the few real estate developers in Hong Kong that can achieve growth in underlying profit for the 2025 fiscal year in a challenging market, and its profit and dividend visibility for this fiscal year are expected to improve.

The bank estimates that shk ppt's contracted sales forecast for the 2025 fiscal year will remain stable, with a minimum target of 25 billion Hong Kong dollars (compared to 25.6 billion Hong Kong dollars in the 2024 fiscal year). The bank believes that the company's target is achievable because it is willing to launch competitively priced residences in Hong Kong. The bank expects shk ppt's real estate sales profit to be inevitably affected, but compared with its peers, the company's operating profit margin for the 2024 fiscal year is maintained at a relatively good 26%.

HSBC Global Research maintains a "buy" rating for shk ppt, and has slightly raised the target price from 95 yuan to 95.3 yuan. The target price is based on the bank's forecast of a 50% discount to its new net asset value per share.