基本信息
文件名称：【汇丰银行-2025研报】建发国际（1908）：建发国际（1908 HK）：买入：在北京确保大胜.pdf
文件大小：359.73 KB
总页数：8 页
更新时间：2025-07-02
总字数：约5.44万字
文档摘要

16June2025

CDInternational(1908HK)Equities

REMD

Buy:SecuringastrongwininBeijingChina

◆CD’slatestprojectlaunchinBeijingreapedRMB6.2bn

MAINTAINBUY

◆Strongpricingandprofitabilityservetoenergizemarket

anticipationforitspipelineofupcominglaunchesTARGETPRICE(HKD)PREVIOUSTARGET(HKD)

21.2021.20

◆ExpectpositivesharepricereactionandreiterateBuywith

unchangedTPofHKD21.20;CDisourpreferrednameSHAREPRICE(HKD)UPSIDE/DOWNSIDE

16.72+26.8%

Settingapremiumbenchmark:OurexpectationofstrongJunesalesisplayingout(asof13Jun2025)

withCDreapingRMB6.2bnfromaBeijingproject(Gearingupfornextleap,3MARKETDATA

June).ThelaunchofBeijingCulturalMansionhasgeneratedastrongsalesresponseMarketcap(HKDm)33,727Freefloat45%

thatexceededourexpectation.AccordingtoGuandian(13June),185outof213Marketcap(USDm)4,297BBG190