Zhitong Finance APP learned that morgan stanley released a research report stating that it maintains a "shareholding" rating for china res land (01109), with a target price of 30 Hong Kong dollars. On the 28th of this month, morgan stanley participated in the roadshow for china res land and china res mixc (01209), remaining optimistic about these two stocks, believing their valuations have reached historical lows, and the 6% dividend yield can provide good risk returns and downside protection.

Regarding china res land, management believes that after experiencing a slowdown in real estate, sales in December will rise again, driven by the launch of large shopping malls. Although the gross margin for property development revenue in 2024 is still under pressure, reaching 10-15%, management expects that next year's pre-sale gross margin will increase mainly based on the stabilization of residential prices in first-tier cities; meanwhile, management continues to maintain a cautious land acquisition policy.

For china res mixc, after facing challenges in the third quarter, same-store sales growth in October was 7.2%, turning positive. The company opened 12 new malls in the first 10 months of 2024, with two significant projects still under discussion. Management remains confident in a 20% year-on-year growth. The management's latest cash on hand remains at a high level of 15 billion yuan, and they hope to continue increasing shareholder returns.