On August 21, SHK PPT rose 3.05% in regular trading, trading at HK$128.1/share, with turnover of HK$229 million.
On the news front, multiple major banks have expressed optimism on Hong Kong's property market recovery. DBS maintained a \"Buy\" rating on the company with a target price of HK$146.3, forecasting property development profit margins to recover from approximately 12% for the full year to above 20%. Citi raised its full-year Hong Kong property price growth forecast to 12%, naming SHK PPT as its top pick among residential-focused developers.
Additionally, the company announced that its board will convene on September 10 to approve full-year results for the fiscal year ending June 30 and consider a final dividend, fueling earnings expectations. Hong Kong residential prices have risen approximately 10% in the first half, exceeding prior full-year forecasts, with a structural upcycle supporting improved profitability for developers.
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