Citi maintains a Buy rating for SHENZHEN INVESTMENT due to its ongoing transformation aimed at achieving stable cash flow and profits. The company plans to expand its assets under management to HKD50 billion and target HKD10 billion in recurring income by 2030, while reducing reliance on property development. With a stable sales target of HKD13 billion for 2026 and a low financing cost of 3.47%, the bank believes SHENZHEN INVESTMENT can enhance returns by revitalizing its core assets in Shenzhen. The target price has been lowered from HKD1.05 to HKD0.9.
