Goldman Sachs: Maintains a "buy" rating on CHINA RES MIXC (01209), expecting a 10% increase in full-year profits.

Goldman Sachs released a research report stating that it is expected that CHINA RES MIXC (01209) will achieve double-digit growth in profits in the first half of the year, in line with management's full-year double-digit growth guidance. This is mainly driven by the steady expansion of the shopping center portfolio, stable rental growth, and the development of urban space services. The bank expects the dividend payout ratio to remain unchanged in the first half of the year, with 100% of core profits distributed after special dividends. It maintains a "buy" rating with a target price of HK$52. In response to expectations of a decrease in office rental income and a slowdown in value-added service income, Goldman Sachs has lowered its average earnings forecast for CHINA RES MIXC for the years 2026 to 2028 by about 1%. It is currently forecasted that earnings in 2026 will increase by about 10%, while maintaining a low double-digit growth outlook for 2027 to 2028.