Huachuang Securities: Maintains a "recommended" rating for China Overseas Development (00688.HK), establishing a market benchmark with the good house system.

Zhixun Finance APP learned that Huachuang Securities released a research report stating that it maintains a "buy" rating for China Overseas Development (00688.HK), with estimated EPS for 2025-2027 of 1.40, 1.38, and 1.52 yuan respectively. Referring to the average PE ratio of comparable high-quality leading companies, the company is given a 13 times PE for 2025, with an estimated market value of approximately 218.8 billion Hong Kong dollars, corresponding to a stock price of 20 Hong Kong dollars. As a leading central enterprise, the company has low financing costs and sufficient saleable values. In the first half of 2025, the company achieved operating income of 83.2 billion yuan, a year-on-year decrease of 4.3%; net profit attributable to ordinary shareholders was 8.6 billion yuan, a year-on-year decrease of 16.6%. The gross profit margin in the first half of the year was 17.4%, with sold but not yet settled amounting to 175 billion yuan, a decrease of 19.8% from the end of 2024.