CICC: Maintains Poly Property (06049.HK) Outperform Rating, Raises Target Price to HK$42.7

Zhitong Finance APP learned that CICC released a research report stating that it maintains unchanged profit forecast for Poly Property (06049.HK), predicting a year-on-year increase of 5% in attributable net profit for 2025-26, reaching 1.55 billion yuan and 1.62 billion yuan respectively. The company's outperform industry rating is maintained. Considering the changes in market risk preferences, the target price is raised by 11% to 42.7 Hong Kong dollars, corresponding to a target P/E ratio of 14 times for 2025 and a 14% upside. The company's stock is currently trading at 12 times the 2025 P/E ratio. The company announced that its 1H25 revenue was 8.4 billion yuan, a year-on-year increase of 7%; attributable net profit was 890 million yuan, a year-on-year increase of 5%, in line with expectations.