After Sun Hung Kai Properties (0016.HK) announced his annual results, he was met by Galaxy Lianchang.Lower the target price from HK $131 to HK $124 to reflect the slowdown in rental and sales growth.Increase holdings”Rating, as long asWithout a sharp decline in profits, the company is expected to maintain a stable dividend in the next few years.

Galaxy Lianchang downgraded SHKP's net profit forecast for fiscal year 2021-22 by 11% per share. 14%.

Sun Hung Kai, a well-balanced Sun Hung Kai, may face more opportunities to expand its land reserves as China issues new rules to limit debt-driven expansion of property developers and the country's land market may cool, the report said.

SHKP recorded a net profit of about HK $23.5 billion for the year ended June 30, down 47.6% year-on-year; basic profit fell 9% to about HK $29.4 billion; basic profit per share was HK $8.12; and paid a final dividend of HK $3.70 per share and HK $4.95 per share for the yearYuan, the same as the dividend payout for the whole of the previous year.