Lyon: China Resources Vanguard Lifestyle (01209.HK) commercial management business remains strong, raising target price to 41.2 Hong Kong dollars.

According to the Wise Finance APP, Lyon released a research report stating that China Resources Mixc Lifestyle (01209.HK) had a lower profit growth in the first half of the year compared to the bank's earlier forecast of 2025 core profit, due to property management business growth lower than expected. However, the commercial management business performance remains strong, with gross profit increasing by 24.4%, benefiting from a 21.1% year-on-year increase in tenant sales. The bank believes that China Resources Mixc Lifestyle business is a representative of high-end consumption in big cities and will continue to outperform the overall consumption. The bank lowered the profit forecasts for the company from this year to 2027 by 1.3% to 3.7%, adjusted the valuation basis for the stock to earnings per share in 2027, raised the target price from 35.8 Hong Kong dollars to 41.2 Hong Kong dollars, and maintained a "outperform market" rating.