HSBC: Target price for China Resources Land (01109.HK) is HK$35, with a rating of "hold".

According to the Orient Finance APP, J.P. Morgan released a research report stating that China Resources Land (01109.HK) is offering a 9.6% discount to sell about 2.2% of its shares in China Resources Mixc Life (01209.HK). First of all, the reason for the discount is not due to liquidity pressure, as the proceeds from the sale are only about 2.1 billion Hong Kong dollars, which is a small amount relative to the group's net debt ratio. The bank believes that the main purpose of the sale is to increase the liquidity of China Resources Mixc Life shares, as the issue of insufficient share liquidity was also discussed at the investor meeting held by the group earlier. The bank now has a target price of 35 Hong Kong dollars for China Resources Land and 44.5 Hong Kong dollars for China Resources Mixc Life, with a rating of "hold" for both.