UBS: If China Evergrande Group (00012.HK) completes its debt-to-equity swap, its estimated net debt ratio may drop to 36%. The rating is "buy".

Wisdom Financial APP learned that UBS issued a research report stating that Henderson Land Development Company (00012.HK) issued 8 billion yuan convertible bonds (CB), with a coupon rate of 0.5% per annum. The issuance of this CB may reflect management's view on the future potential for the stock price to rise in the coming years. Therefore, the bank expects Henderson's stock price and the real estate industry to react negatively to this news, with a 12-month target price of 29 Hong Kong dollars, an investment rating of "buy", and a target price discount of 33.6% compared to the net asset value per share of 43.7 Hong Kong dollars.