0841 GMT - China Overseas Land & Investment's profit could stabilize in 2025, according to Daiwa analyst William Wu in a research note. The property company's net profit was down 34% on year in 2024, due to a decline in property development revenue and contraction in gross profit margin among other factors, the analyst says. However, profit might be supported by unrecognized sales as of end-2024, providing a solid foundation for its top-line growth this year, Wu adds, citing management's remarks. The company may have also benefited from its leading positions in tier-1 cities, driving sales performance, Wu adds. The analyst maintains a buy rating, while trimming its target price to HK$19.00 from HK$20.00. Shares last traded at HK$13.28. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
April 01, 2025 04:41 ET (08:41 GMT)
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