According to the report released by DBS, it maintains a 'buy' rating for Yuexiu Property (00123). Due to the downturn in the real estate market and based on the assumption of lower profit margins, the profit forecast for the fiscal years 2024 to 2025 has been reduced by 15% to 22%. The report also mentions that the stock price reflects short-term unfavorable factors for profitability, and the target price has been lowered from HKD 7.42 to HKD 6.53.

The report states that the company's first-half performance was slightly below expectations due to lower-than-expected profit margins and tight short-term liquidity. The company reiterates its full-year presales target of CNY 147 billion, representing a year-on-year growth of 3.5%. The available resources for the second half of the year are approximately CNY 215 billion.