Glonghui, January 20, 丨 CITIC Securities Research Report said that China Construction International (3311.HK)'s business covers the three major fields of construction, investment and technology. Looking ahead to a rise in Hong Kong's construction demand in the next 5 to 10 years, this part of the business is expected to maintain relatively rapid growth. The mainland investment business has switched from a long-term PPP model to a short-term GTR model (targeted government repurchases), which has led to an increase in its asset turnover and continuous improvement in operating cash flow, ultimately driving an increase in the company's valuation level. Furthermore, according to the bank, the group's unique construction technology business MiC has a clear advantage in the construction period, and is currently continuing to break through the mainland blue ocean market. Coupled with the transformation of its own business model from service to product, it will help further high-quality development. Combining PE and PB valuations, the bank gave the Group a “buy” rating for the first time, with a reasonable market value of about HK$60 billion, corresponding to a target price of HK$12. The stock is currently reported at HK$9.3, with a total market value of HK$46.9 billion.