Equity Analysis /
Hong Kong

HK : China Overseas Property Holdings - To see faster expansion for years ahead

    Raymond Cheng
    Raymond Cheng

    Head of Hong Kong Research

    Will Chu
    Will Chu

    Analyst

    CGS-CIMB
    12 April 2021
    Published by

    We think investors should be happy to hear that management is eager to maintain COPH’s industry-leading position and ranking. COPH aims to speed up third-party portfolio rapidly over the next five years. It also plans to explore more VAS to protect its profitability ahead. Reiterate Add with an unchanged TP of HK$8.8. COPH trades at undemanding valuation of 20x 2022F P/E.