[ET Net News Agency, 7 November 2019] Daiwa Research upped its target price for
Shenzhen International (SZI)(00152) to HK$19 from HK$17.2 and maintained its "outperform"
rating.
The research house said SZI's business outlook remaining intact and recommended SZI for
its high dividend yield and other potential catalysts.
Daiwa noted that Phase One of the Meilin property project (GFA 75,000 sqm) has already
been sold out, and SZI plans to push for Phase Two (GFA around 65,000 sqm) presales in the
near term. Daiwa expects the average selling price to be CNY65,000/sqm and revenue to be
booked in 2020.
On the other hand, the Qianhai property project (the first phase at 50,000 sqm and Daiwa
estimated a selling price of CNY110,000/sqm) should also start presales very soon. It
assumed revenue from this project to be booked in 2021. (KL)
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00152 SHENZHEN INT'L
Nominal 
5.930 +0.030 (+0.508%) Research Report
07/11/2019 09:50
{I-bank focus}Daiwa ups Shenzhen Int'l (00152) to HK$19
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