Caitong Securities: China Jinmao (00817.HK) sales rebound against the trend, first "buy" rating given.

According to the Zhongtong Finance APP, CaiTong Securities released a research report stating that China Jinmao (00817.HK) is currently bottoming out and undergoing continuous repair. On one hand, the company is focusing on quality and increasing incrementally, with strong sales realization from new land acquisitions, accelerating fund turnover and profit contribution. On the other hand, the company plans to revitalize existing assets and aims to solve stock issues within three years, achieving self-generation and repair. The balance sheet and income statement are expected to gradually recover. It is estimated that the net profit attributable to shareholders in 2026-2028 will be 1.35 billion, 1.71 billion, and 1.93 billion respectively, with year-on-year growth of +8%, +26%, and +13%. First coverage, with a "buy" rating.