Morgan Stanley: GUANGDONG INV (00270) exceeded profit expectations in the beginning of last year, expected to have room for upward dividends per share.

Morgan Stanley released a research report stating that assuming GUANGDONG INV (00270) maintains a dividend payout ratio of 65%, there is room for upside in dividends per share. It is estimated that the dividend per share for last year was 0.45 Hong Kong dollars, higher than the original forecast of 0.41 Hong Kong dollars. The target price for the group is 7.74 Hong Kong dollars with a rating of "hold". GUANGDONG INV has released an earnings surprise, with an expected 43% year-on-year increase in net profit attributable to reach 4.493 billion Hong Kong dollars, surpassing the bank's forecast of 4.127 billion Hong Kong dollars. Morgan Stanley stated that the earnings surprise for the group was mainly due to GD LAND (00124) not being consolidated since January last year after recording significant losses in 2024, as well as a decrease in financing costs and administrative expenses.