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00813 SHIMAO GROUP
RTNominal up0.475 +0.005 (+1.064%)
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13/06/2018 14:00

[I-bank focus]HSBC lifts Shimao Property (00813) to HK$32.5

[ET Net News Agency, 13 June 2018] HSBC Global Research raised its target price for
Shimao Property (00813) to HK$32.5 from HK$25.6, and retained its "buy" rating.
The research house said Shimao's year-to-date (through May) sales performance leads the
pack with contracted sales growth of 53% y-y (versus 35% for the sector, excluding the
outliers), locking in 37% of its FY2018 sales target.
Building on exceptionally strong sales in December 2017 and March 2018, it reported
strong May sales of RMB10.6bn, up 30% m-m and 50% y-y. HSBC believes June will be another
exceptionally strong month for Shimao, driven by a rich pipeline of saleable resources,
which should further strengthen the case for market share gain and act as a near-term
share price driver. (KL)

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