Zhongjin: Maintains outperformance rating on Meidu Real Estate (03990), increases target price to HKD 5.8

The Wisdom Financial APP learned that CICC released a research report stating that it maintains its earnings forecast for Sunac China Holdings (03990), with an expected year-on-year growth of 19% / 13% in the company's core net profit attributable to the mother in 2025-26 to 601 million yuan / 682 million yuan. The rating of outperforming the industry is maintained, taking into account significantly improved market risk preferences and clear company performance realization path, with the target price raised by 36% to 5.8 Hong Kong dollars per share, corresponding to a 5.5% target dividend yield for 2025 and 23% upside potential. The company is trading at a 6.9% dividend yield for 2025.