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00101
HANG LUNG PPT
HKD
9.370-0.040
(-0.43%)
1D
AI Analysis for 00101
AI Analysis
High
9.410
Open
9.410
VWAP
9.32
Vol
2.62M
Mkt Cap
45.71B
Low
9.240
Amount
24.40M
EV/EBITDA(TTM)
17.32
Total Shares
5.06B
EV
104.85B
EV/OCF(TTM)
--
P/S(TTM)
4.65
Hang Lung Properties Ltd is an investment holding company principally engaged in the property leasing business. The Company operates its business through two segments. The Property Leasing segment is engaged in the leasing of portfolio of properties carrying the '66' brand in Mainland China, including Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan, and Hangzhou. It is also engaged in the development and sales of properties in Hong Kong, the property portfolio includes commercial properties, offices and residential and serviced apartments, among others. The Property sales segment engages in the sale of properties in Hong Kong, including units at The Long Beach, semi-detached houses at 23-39 Blue Pool Road.
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News
4.0
02-02aastocksJPM Maintains HANG LUNG PPT as Preferred Choice, Raises Target Price to HKD12
Tenant Sales Recovery: HANG LUNG PPT reported an 18% year-on-year growth in tenant sales for 4Q25, indicating a strong recovery in China, surpassing the 10% growth seen in 3Q25.
Future Growth Expectations: Management anticipates mid-single-digit percentage growth in tenant sales for FY26, maintaining positive momentum as of January 2026.
Valuation Insights: JPMorgan highlights HANG LUNG PPT's current valuation as attractive, with a 66% discount to net asset value, a P/B ratio of 0.3, and a dividend yield of 5.5%.
Analyst Recommendations: JPMorgan has reiterated HANG LUNG PPT as a top pick in the industry, raising its target price from HKD11.5 to HKD12, citing the potential for revaluation driven by the recovery in tenant sales.
4.0
02-02aastocksCiti Increases HANG LUNG PPT's Target Price to HKD11.2, Maintains Buy Rating
Stock Performance: HANG LUNG PPT (00101.HK) experienced a decline of 1.377%, with short selling amounting to $58.83M and a ratio of 13.073%.
Sales Growth Forecast: Citi's research report indicates potential for 5-7% same-store sales growth in China by 2026, driven by an improved product mix and new flagship store openings.
Historical Sales Increase: The estimated same-store sales growth for HANG LUNG PPT in 4Q25 is projected to reach an 18% year-over-year increase, attributed to initiatives aimed at boosting customer traffic and retention.
Analyst Rating Update: Citi has maintained a Buy rating for HANG LUNG PPT and increased its target price from HKD10.1 to HKD11.2, reflecting positive outlook on the company's performance.
9.5
01-30aastocksHANG LUNG PPT Reports 3.5% Increase in Full-Year Underlying Net Profit to $3.202B; Final Dividend Maintained at 40 Cents
Stock Performance: HANG LUNG PPT (00101.HK) experienced a decline of 2.567%, with a short selling amount of $10.37 million and a ratio of 11.431%.
Annual Results Announcement: The company reported its annual results for the year ending December 2025, showing an underlying net profit of $3.202 billion, which is a 3.5% increase year-over-year.
4.5
01-28aastocksHSI Rises by 699 Points, Reaching Highest Level in Over 4.5 Years; Financials, Developers, and Commodity Stocks Lead Gains
Market Performance: The Hong Kong bourse saw significant gains, with the HSI closing at 27,826, up 699 points or 2.6%, marking its highest level in over four and a half years, driven by a decline in the USD Index (DXY).
Sector Highlights: Financials, property developers, and resource stocks performed well, with notable increases in shares of HSBC, BOC Hong Kong, and various Chinese banks, as well as significant gains in property and resource companies.
Gold and Silver Surge: Spot gold prices exceeded USD 5,200, and silver futures rose sharply, with companies like SD Gold and Zijin Gold International seeing substantial increases in their stock prices.
Tech Sector Movements: Major tech stocks such as Tencent, Alibaba, and Meituan experienced moderate gains, while Kuaishou and Bilibili saw sharper increases, reflecting a positive trend in the technology sector.
4.5
01-28aastocks<Full-day Summary> HSI Gains 699 Points; HSTI Rises 145 Points; CHINAHONGQIAO Surges Over 7%; CHINAHONGQIAO, XINYI GLASS, PETROCHINA, CNOOC, SINOPEC CORP Reach Record Highs; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 699 points (2.6%) to close at 27,826, with significant gains also seen in the HSTI and HSCEI, reflecting a strong market turnover of $361.52 billion.
Top Gainers: Notable heavyweights like Tencent, Xiaomi, and Alibaba saw increases of 2.3%, 2.1%, and 2.1% respectively, while Chinahongqiao and Pop Mart led the HSI & HSCEI constituents with gains of 7.3% and 7.0%.
Short Selling Activity: High short selling ratios were observed across various stocks, with Ping An and BYD Company showing significant short selling amounts, indicating investor caution despite overall market gains.
Noteworthy Movements: Stocks like Unisound and Chalco experienced dramatic price changes, with Unisound surging by 73.8% while XXF and Adicon Holdings faced declines of 14.5% and 12.0% respectively.
Money Flow
Over the past 66 trading days, overall net money flow is -106.18M, with retail investors contributing 15.04M and major investors adding -115.79M.
Net Buy $ Volume
Net Sell $ Volume
JPMorgan
JPMorgan
upgrade
$12
2026-02-02
New
Reason
The analyst rating for HANG LUNG PPT (00101.HK) is based on several key factors highlighted in the article:
1. Recovery of Tenant Sales: The company's FY25 results showed a significant recovery in tenant sales in China, with a record-breaking growth of 18% year-over-year in the fourth quarter, which exceeded the 10% growth in the third quarter.
2. Positive Management Outlook: The management's expectation of mid-single-digit percentage growth in tenant sales for FY26 indicates continued strong performance.
3. Valuation Metrics: HANG LUNG PPT is currently trading at a 66% discount to net asset value, with a price-to-book (P/B) ratio of 0.3 times and a dividend yield of 5.5%. These metrics suggest that the stock is undervalued.
4. Potential for Revaluation: JPMorgan is confident that the ongoing recovery in tenant sales will lead to a revaluation of the stock, which supports their bullish stance.
5. Target Price Increase: JPMorgan has raised its target price from HKD11.5 to HKD12, reinforcing their positive outlook on the stock.
Overall, these factors contribute to the "Buy" rating from Citi and the reiteration of HANG LUNG PPT as a top pick by JPMorgan.
JPMorgan
Price Target
$12
2026-02-02
upgrade
New
The analyst rating for HANG LUNG PPT (00101.HK) is based on several key factors highlighted in the article:
1. Recovery of Tenant Sales: The company's FY25 results showed a significant recovery in tenant sales in China, with a record-breaking growth of 18% year-over-year in the fourth quarter, which exceeded the 10% growth in the third quarter.
2. Positive Management Outlook: The management's expectation of mid-single-digit percentage growth in tenant sales for FY26 indicates continued strong performance.
3. Valuation Metrics: HANG LUNG PPT is currently trading at a 66% discount to net asset value, with a price-to-book (P/B) ratio of 0.3 times and a dividend yield of 5.5%. These metrics suggest that the stock is undervalued.
4. Potential for Revaluation: JPMorgan is confident that the ongoing recovery in tenant sales will lead to a revaluation of the stock, which supports their bullish stance.
5. Target Price Increase: JPMorgan has raised its target price from HKD11.5 to HKD12, reinforcing their positive outlook on the stock.
Overall, these factors contribute to the "Buy" rating from Citi and the reiteration of HANG LUNG PPT as a top pick by JPMorgan.
Citi
Citi
Buy
maintain
2026-02-02
New
Reason
The analyst rating for HANG LUNG PPT (00101.HK) is based on several positive factors highlighted in Citi's research report. The key reasons for maintaining a Buy rating and raising the target price from HKD10.1 to HKD11.2 include:
1. Upside Potential in Same-Store Sales Growth (SSSG): Citi projects a target of around 5-7% SSSG in China for 2026, indicating strong growth potential.
2. Historical High SSSG: The estimate for 4Q25 includes an anticipated 18% year-over-year increase in SSSG, which is expected to be a historical high.
3. Product Mix and New Stores: The growth is attributed to an enriched non-luxury product mix and the opening of new flagship stores in the second half of 2025.
4. Customer Engagement Initiatives: Multiple initiatives aimed at attracting customer traffic and enhancing customer retention are expected to contribute positively to sales growth.
These factors collectively support Citi's optimistic outlook for HANG LUNG PPT, justifying the Buy rating and the increased target price.
Citi
Buy
Price Target
2026-02-02
maintain
New
The analyst rating for HANG LUNG PPT (00101.HK) is based on several positive factors highlighted in Citi's research report. The key reasons for maintaining a Buy rating and raising the target price from HKD10.1 to HKD11.2 include:
1. Upside Potential in Same-Store Sales Growth (SSSG): Citi projects a target of around 5-7% SSSG in China for 2026, indicating strong growth potential.
2. Historical High SSSG: The estimate for 4Q25 includes an anticipated 18% year-over-year increase in SSSG, which is expected to be a historical high.
3. Product Mix and New Stores: The growth is attributed to an enriched non-luxury product mix and the opening of new flagship stores in the second half of 2025.
4. Customer Engagement Initiatives: Multiple initiatives aimed at attracting customer traffic and enhancing customer retention are expected to contribute positively to sales growth.
These factors collectively support Citi's optimistic outlook for HANG LUNG PPT, justifying the Buy rating and the increased target price.
HSBC
HSBC Global Research
Buy
maintain
2026-01-28
Reason
HSBC Global Research maintained a "Buy" rating on HANG LUNG PPT due to the improvement in the company's shopping mall business performance and the implementation of a new asset-light expansion strategy. They believe these factors will enhance the company's earnings prospects and dividend certainty, thereby supporting its share price. Additionally, the report highlights a gradual recovery in tenant sales, particularly in Shanghai, and signs of stabilization in Hong Kong's mall business, which are expected to drive earnings growth in 2026. The target price was raised from $10.5 to $10.9, reflecting these positive developments.
HSBC
Buy
Price Target
2026-01-28
maintain
HSBC Global Research maintained a "Buy" rating on HANG LUNG PPT due to the improvement in the company's shopping mall business performance and the implementation of a new asset-light expansion strategy. They believe these factors will enhance the company's earnings prospects and dividend certainty, thereby supporting its share price. Additionally, the report highlights a gradual recovery in tenant sales, particularly in Shanghai, and signs of stabilization in Hong Kong's mall business, which are expected to drive earnings growth in 2026. The target price was raised from $10.5 to $10.9, reflecting these positive developments.
CICC
CICC
Outperform
maintain
$9.46
2025-12-11
Reason
The analyst rating for HANG LUNG PPT (00101.HK) is an "Outperform" based on several key factors highlighted in the article. The partnership with Wuxi Liangxi Urban Development Company to acquire operating rights for a significant commercial project is seen as a strategic move that aligns with the company's Hang Lung V.3 strategy, which emphasizes high capital efficiency and selective reinvestment in existing projects. Additionally, CICC expects the retail sales performance of HANG LUNG PPT's malls in China to maintain positive momentum, projecting a 10% year-over-year growth in retail sales for 3Q25. These factors contribute to the positive outlook and the target price of HKD9.46 set by CICC.
CICC
Outperform
Price Target
$9.46
2025-12-11
maintain
The analyst rating for HANG LUNG PPT (00101.HK) is an "Outperform" based on several key factors highlighted in the article. The partnership with Wuxi Liangxi Urban Development Company to acquire operating rights for a significant commercial project is seen as a strategic move that aligns with the company's Hang Lung V.3 strategy, which emphasizes high capital efficiency and selective reinvestment in existing projects. Additionally, CICC expects the retail sales performance of HANG LUNG PPT's malls in China to maintain positive momentum, projecting a 10% year-over-year growth in retail sales for 3Q25. These factors contribute to the positive outlook and the target price of HKD9.46 set by CICC.
JPMorgan
JPMorgan
maintain
$10
2025-12-11
Reason
The analyst rating for HANG LUNG PPT (00101.HK) is based on several key factors highlighted in the article. JPMorgan reaffirmed the stock as one of its top picks due to the continuous improvement in tenant sales in mainland China, with expectations of a 10% year-over-year growth in sales for the fourth quarter of 2025, following similar growth in the third quarter. Additionally, the company's recent acquisition of operational rights for a commercial project in Wuxi aligns with its HLP V.3 growth strategy, indicating a proactive approach to expansion. Despite a focus on debt reduction in the near term, JPMorgan believes the company can still identify growth drivers in a lower-risk manner. Consequently, they rated HANG LUNG PPT as Overweight, with a target price of $10 for June 2026.
JPMorgan
Price Target
$10
2025-12-11
maintain
The analyst rating for HANG LUNG PPT (00101.HK) is based on several key factors highlighted in the article. JPMorgan reaffirmed the stock as one of its top picks due to the continuous improvement in tenant sales in mainland China, with expectations of a 10% year-over-year growth in sales for the fourth quarter of 2025, following similar growth in the third quarter. Additionally, the company's recent acquisition of operational rights for a commercial project in Wuxi aligns with its HLP V.3 growth strategy, indicating a proactive approach to expansion. Despite a focus on debt reduction in the near term, JPMorgan believes the company can still identify growth drivers in a lower-risk manner. Consequently, they rated HANG LUNG PPT as Overweight, with a target price of $10 for June 2026.
UBS
UBS
Neutral -> Buy
upgrade
2025-10-17
Reason
The analyst rating from the article is primarily driven by signs of recovery in luxury and jewelry sales in Mainland China and Hong Kong, attributed to the wealth effect from the stock market and higher gold prices. UBS upgraded CHINA RES MIXC from Neutral to Buy due to its higher proportion of emerging brands and the positive outlook for luxury retail in Hong Kong, which is benefiting from a strong equity market. Additionally, UBS expressed optimism about other stocks in China's retail sector, indicating a favorable market environment for these companies. The upgrade of LAOPU GOLD to Buy was based on anticipated valuation pressure and potential product price hikes that could support short-term sales and gross margins.
UBS
Neutral -> Buy
Price Target
2025-10-17
upgrade
The analyst rating from the article is primarily driven by signs of recovery in luxury and jewelry sales in Mainland China and Hong Kong, attributed to the wealth effect from the stock market and higher gold prices. UBS upgraded CHINA RES MIXC from Neutral to Buy due to its higher proportion of emerging brands and the positive outlook for luxury retail in Hong Kong, which is benefiting from a strong equity market. Additionally, UBS expressed optimism about other stocks in China's retail sector, indicating a favorable market environment for these companies. The upgrade of LAOPU GOLD to Buy was based on anticipated valuation pressure and potential product price hikes that could support short-term sales and gross margins.
Morgan Stanley
Morgan Stanley
Overweight
maintain
$9
2025-10-16
Reason
Morgan Stanley's analyst rating for HANG LUNG PPT (00101.HK) was maintained at Overweight due to improved fundamentals and a narrower net asset value (NAV) discount, which decreased from 60% to 50%. The report highlighted a positive trend in the Group's retail business in mainland China, specifically noting a significant increase in tenant sales at Shanghai's Grand Gateway 66 and Plaza 66 in 3Q25 compared to the previous half of the year. This improvement in sales performance, along with key developments such as the opening of new stores, contributed to the positive outlook and the upward adjustment of the target price from $9 to $10.5.
Morgan Stanley
Overweight
Price Target
$9
2025-10-16
maintain
Morgan Stanley's analyst rating for HANG LUNG PPT (00101.HK) was maintained at Overweight due to improved fundamentals and a narrower net asset value (NAV) discount, which decreased from 60% to 50%. The report highlighted a positive trend in the Group's retail business in mainland China, specifically noting a significant increase in tenant sales at Shanghai's Grand Gateway 66 and Plaza 66 in 3Q25 compared to the previous half of the year. This improvement in sales performance, along with key developments such as the opening of new stores, contributed to the positive outlook and the upward adjustment of the target price from $9 to $10.5.
JPM
NULL -> Buy
maintain
2025-10-13
Reason
The analyst rating for HANG LUNG PPT (00101.HK) is maintained as "Buy" due to several positive indicators. The report highlights that the company's Plaza 66 and Grand Gateway 66 in Shanghai exceeded expectations, with overall tenant sales of its Chinese shopping malls growing by 10% year-over-year in 3Q25. Additionally, in the first four days of October, tenant sales rose by 15% year-over-year, and footfall increased by 3%. For the Hong Kong investment portfolio, tenant sales also saw a 2% year-over-year increase in July-August 2025. As a result, JPM has lifted its earnings forecasts for 2025-2027 by 0.8-1.2% to reflect expected rental increases and raised the target price from $9.2 to $10.3.
JPM
NULL -> Buy
Price Target
2025-10-13
maintain
The analyst rating for HANG LUNG PPT (00101.HK) is maintained as "Buy" due to several positive indicators. The report highlights that the company's Plaza 66 and Grand Gateway 66 in Shanghai exceeded expectations, with overall tenant sales of its Chinese shopping malls growing by 10% year-over-year in 3Q25. Additionally, in the first four days of October, tenant sales rose by 15% year-over-year, and footfall increased by 3%. For the Hong Kong investment portfolio, tenant sales also saw a 2% year-over-year increase in July-August 2025. As a result, JPM has lifted its earnings forecasts for 2025-2027 by 0.8-1.2% to reflect expected rental increases and raised the target price from $9.2 to $10.3.
UBS
NULL
to
Buy
maintain
$9.6
2025-10-10
Reason
The analyst rating for HANG LUNG PPT (00101.HK) was reiterated as a Buy by UBS due to the company's 3Q25 tenant sales in China growing by 10% year-over-year, reversing previous declines in the first half of the year. Notably, sales at key locations, Plaza 66 and Grand Gateway 66, showed significant improvements. Despite overall tenant sales being 10% lower compared to 2023, the positive trend in sales and the recovery from earlier declines led UBS to expect a favorable reaction in the stock price, justifying the Buy rating with a target price of HKD9.6.
UBS
NULL
to
Buy
Price Target
$9.6
2025-10-10
maintain
The analyst rating for HANG LUNG PPT (00101.HK) was reiterated as a Buy by UBS due to the company's 3Q25 tenant sales in China growing by 10% year-over-year, reversing previous declines in the first half of the year. Notably, sales at key locations, Plaza 66 and Grand Gateway 66, showed significant improvements. Despite overall tenant sales being 10% lower compared to 2023, the positive trend in sales and the recovery from earlier declines led UBS to expect a favorable reaction in the stock price, justifying the Buy rating with a target price of HKD9.6.
Morgan Stanley
Morgan Stanley
Equalweight
maintain
$6.5
2025-07-30
Reason
HANG LUNG PPT (00101.HK)
+0.200 (+2.581%)
Short sellingxa0$22.94M;xa0Ratioxa011.857%
's 1H25 EPS dropped by 13% YoY to HKD0.33, below the market expectation of HKD0.35, according to Morgan Stanley's research report.
The company's net income fell by 9% YoY, worse than the expected 6% decline, with a 6% expansion in equity base. The interim dividend remained at HKD0.12, unchanged from the same period last year. A 12-month dividend yield of 6.7% was still attractive, though whether the final dividend could reach HKD0.4 remained questionable.
Related News
BofAS Ratings, TPs on Developers (Table)
Should the 1H net income of HKD1.587 billion be adjusted for capitalized interest of HKD491 million, it can only support a dividend of HKD0.46, making it difficult for the company to maintain the full-year dividend at the same level.
Morgan Stanley gave HANG LUNG PPT a target price of HKD6.5 and an Equalweight rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-30 16:25.)
Morgan Stanley
Equalweight
Price Target
$6.5
2025-07-30
maintain
HANG LUNG PPT (00101.HK)
+0.200 (+2.581%)
Short sellingxa0$22.94M;xa0Ratioxa011.857%
's 1H25 EPS dropped by 13% YoY to HKD0.33, below the market expectation of HKD0.35, according to Morgan Stanley's research report.
The company's net income fell by 9% YoY, worse than the expected 6% decline, with a 6% expansion in equity base. The interim dividend remained at HKD0.12, unchanged from the same period last year. A 12-month dividend yield of 6.7% was still attractive, though whether the final dividend could reach HKD0.4 remained questionable.
Related News
BofAS Ratings, TPs on Developers (Table)
Should the 1H net income of HKD1.587 billion be adjusted for capitalized interest of HKD491 million, it can only support a dividend of HKD0.46, making it difficult for the company to maintain the full-year dividend at the same level.
Morgan Stanley gave HANG LUNG PPT a target price of HKD6.5 and an Equalweight rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-30 16:25.)
Valuation Metrics
Forward PE
5Y Average PE
12.36
Current PE
13.38
Overvalued PE
15.57
Undervalued PE
9.16
Forward EV/EBITDA
5Y Average EV/EBITDA
15.29
Current EV/EBITDA
16.87
Overvalued EV/EBITDA
17.15
Undervalued EV/EBITDA
13.42
Forward PS
5Y Average PS
4.72
Current PS
4.14
Overvalued PS
6.59
Undervalued PS
2.85
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