Citigroup: SINO LAND (00083) increases investment to drive long-term growth and raises target price to HK$14.2

Citigroup released a research report stating that SINO LAND (00083) is accelerating its pace of land acquisition, actively participating in all land bids, and planning to expand its investment property portfolio by engaging in value-added transactions in its professional areas such as hotels and student dormitories. The bank believes that investors will appreciate the company's more effective use of its net cash (HK$51.4 billion, equivalent to HK$5.42 per share), especially at a time when new investments are opportune. Additionally, the bank believes that under a stable dividend policy, the company has room to consider increasing shareholder returns. Based on the company's rich cash value and the possibility of more proactive capital allocation, the bank maintains a "buy" rating, with the target price raised from HK$10.6 to HK$14.2.