Sino Land Appears Well-Positioned for Further Land Acquisitions
Dow Jones
Sep 03
0229 GMT - Sino Land appears well-positioned for further land acquisitions, DBS Group Research analysts say, pointing to its strong balance sheet. The Chinese property company's net cash position rose to 55.1 billion Hong Kong dollars as of June this year, thanks to robust property sales and interest income from cash deposits, the analysts say. The company is actively replenishing its land bank and could capture attractive opportunities, which should support a higher valuation over the long term, they add. DBS cuts its target price to HK$12.28 from HK$14.20 to reflect a discount to its June 2027 net-asset value estimate, while maintaining a buy rating on the stock. Shares decline 1.15% to HK$10.31.
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