Morgan Stanley released a research report stating that earlier, SHUN TAK HOLD (00242) and SJM HOLDINGS (00880) announced that they signed a memorandum, with SHUN TAK HOLD planning to sell the Hengqin property to SJM HOLDINGS for 0.546 billion yuan (approximately 0.584 billion Hong Kong dollars). The target price for SJM HOLDINGS is set at 2.25 Hong Kong dollars, with a "Shareholding" rating.

The report pointed out that the above measures have strategic significance but limited short-term impact, as the company plans to transform the space into a three-star hotel. The bank expects there will be 300 rooms, each expanding to 500 square feet, which means each room will be priced at 2 million RMB. However, it will take another 18 months to prepare, and this move aligns with the government's initiatives and provides SJM with inventory of rooms that are in short supply in Macau.