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<Research>CICC Drops POLY PROPERTY (00119.HK) TP to $3.15 as Annual Results Slightly Beat
POLY PROPERTY (00119.HK) recorded a 20% YoY increase in revenue to RMB48.4 billion in 2025, mainly driven by stronger-than-expected growth in development settlement revenue, accord...
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<Research>CICC Drops POLY PROPERTY (00119.HK) TP to $3.15 as Annual Results Slightly Beat
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POLY PROPERTY (00119.HK)  +0.010 (+0.510%)    Short selling $1.17M; Ratio 3.573%   recorded a 20% YoY increase in revenue to RMB48.4 billion in 2025, mainly driven by stronger-than-expected growth in development settlement revenue, according to CICC's research report. Gross margin rose 0.6 ppts YoY to 17% due to structural factors in settlement.

During the year, the Company's provision for asset impairment was RMB1.02 billion. Net profit attributable to the parent company increased by 23% YoY to RMB230 million, corresponding to a net profit margin attributable to the parent company of 0.5%. Its annual results were slightly better than the broker's expectations.

Related News Industrial Securities Initiates Coverage on Poly Property Group (00119.HK) with Overweight; Gross Margin Expected to Stabilize
Taking into account the settlement schedule and the current macro environment of the new home market, CICC lowered its 2026/ 2027 earnings forecasts by 13%/ 8% to RMB130 million/ RMB190 million each. Therefore, the broker kept rating at Outperform, and dropped its target price by 13% to $3.15.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-17 16:25.)

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