Lyon: Lower target price of China Overseas Property (02669.HK) to 6.1 Hong Kong dollars, maintain "outperform the market" rating

According to the app of Wisdom Financial, Lyon released a research report stating that due to the challenging operating environment, China Overseas Property (02669.HK) is expected to 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. The bank believes this is absolutely crucial to its long-term success. Currently, the bank prefers property management companies over real estate developers. It maintains an "outperform" rating on China Overseas Property, but slightly lowers the target price from 6.2 Hong Kong dollars to 6.1 Hong Kong dollars.