Lyon: Lower Zhonghai Property's target price to 6.1 Hong Kong dollars, maintain "outperform" rating.

Lyon released a report stating that due to the challenging operating environment, it is expected that China Overseas Property will maintain business growth, but the growth rate will slow down. Since 2024, the company has shifted its focus from expanding its scale to improving, deepening, and enhancing the quality of its property management services, which the bank believes is absolutely critical to its long-term success. Due to the uncertain outlook for the real estate market, the bank prefers property management companies over real estate developers, maintaining an "outperform" rating on China Overseas Property with a slightly lowered target price from 6.2 Hong Kong dollars to 6.1 Hong Kong dollars.