Glonghui, March 14 | Bank of America published a research report stating that Wanwuyun's profit margin expansion may be lower than expected, so it lowered its profit forecast. The target price was lowered from HK$33 to HK$27 accordingly, and the rating was reiterated as a “buy.” The bank also indicated that Wanwuyun's current stock price is 7.3 times the 2024 price-earnings ratio forecast, and net cash on hand accounts for more than 60% of its market value, which has the potential to increase the company's dividends. The bank believes that the company could potentially be included in the main index in mid-March and may be included in MSCI and Shanghai-Hong Kong Stock Exchange in the future; the factors that financial institutions announced more support measures for Vanke are all catalysts for the company's performance to improve. Furthermore, Bank of America anticipates that Wanwuyun will consider further increasing dividend rates based on providing developers with more liquidity and returning profits to shareholders when there are few opportunities for mergers and acquisitions. The company's dividend yield is also expected to be around 4% in 2023.