Open Source Securities: China Jinmao (00817.HK) sales performance strong against the trend, profit recovery through the cycle, maintain a "buy" rating.

According to the Securities Times APP, Open Source Securities issued a research report stating that China Jinmao (00817.HK) has adjusted its development strategy in response to market fluctuations since 2023, and its fundamentals have continued to improve after hitting bottom. In the first half of 2025, the company's sales performance has climbed against the trend, actively reserving core land to ensure long-term profitability, and its income level is expected to continue to recover. The bank predicts that the company's net profit attributable to shareholders from 2025 to 2027 will be 1.11 billion, 1.56 billion, and 1.62 billion yuan respectively, with EPS of 0.08 yuan, 0.12 yuan, and 0.12 yuan respectively. The current stock prices correspond to PE ratios of 13.5, 9.7, and 9.3 times respectively. With strong support from its parent company, strong sales and land acquisition against the trend, and a clear trend of performance recovery, the company is optimistic about the company's profitability after restructuring its business structure and maintains a "buy" rating.