智通财经APP获悉，摩根大通发布研报称，尽管恒隆地产(00101)在未来1至2年可能优先降低负债，但仍 能以较低风险的方式发掘增长动力，并重申恒隆地产为首选股票之一，理由是中国内地租户销售额持续 改善，料第四季度销售将延续第三季度同比增长10%的势头等。 恒隆地产近日宣布，以一份长期租约获得位于无锡市中心一个商业项目的经营权，成为公司增长战略蓝 图"恒隆V.3"策略下的第四次扩张。小摩表示，参考恒隆广场66购物中心最新租金水平，预计此次扩张 计划每年可产生约2亿元人民币的租金收入，假设该公司持有该经营租赁60%的股份，利润率为30%， 小摩粗略估计此次扩充项目将贡献全年收益约1%。 ...

摩根大通发表研报指，恒隆地产近日宣布，以一份长期租约获得位于无锡市中心一个商业项目的经营 权，成为公司增长战略蓝图恒隆V.3策略下的第四次扩张。该行表示，尽管公司在未来1至2年可能优先 降低负债，但仍能以较低风险的方式发掘增长动力，并重申恒隆地产为首选股之一，理由是内地租户销 售额持续改善，料第四季度销售将延续第三季度按年增长10%的势头等。该行予恒隆2026年6月目标价 10港元，评级"增持"。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年11月30日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 恒隆地產有限公司 | | | 呈交日期: | 2025年12月4日 | | | I. 法定/註冊股本變動 不適用 | | | | 備註： | | | | 恒隆地產有限公司並無法定股本，及其股本並無股份面值。 | | | | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00101 | 說明 | | 不適用 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 5,056,646,442 | | 0 | | 5,056,646,442 | | 增加 / 減少 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年10月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 恒隆地產有限公司 | | | | 呈交日期: | 2025年11月6日 | | | | I. 法定/註冊股本變動 | 不適用 | | | | 備註： | | | | | 恒隆地產有限公司並無法定股本，及其股本並無股份面值。 | | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00101 | 說明 | | 不適用 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總 ...

Core Viewpoint - Morgan Stanley has raised the target price for Hang Lung Properties (00101) from HKD 9 to HKD 10.5 due to improved fundamentals and a narrowing NAV discount from 60% to 50%, maintaining an "Overweight" rating [1] Group 1: Financial Performance - The mainland retail business of the group is showing signs of recovery, with tenant sales in Shanghai's Grand Gateway 66 and Plaza 66 increasing by 31% and 8% year-on-year in Q3, compared to a 10% increase and an 8% decline in the first half of the year [1] - During the first four days of the National Day Golden Week, overall tenant sales in mainland malls increased by 15%, with Wuhan's Heartland 66 and Shanghai's Grand Gateway 66 recording year-on-year increases of over 70% and 50%, respectively [1] Group 2: Earnings Forecast - The bank has adjusted its earnings per share forecasts for 2026 and 2027 to HKD 0.62 and HKD 0.68, down from previous estimates of HKD 0.65 and HKD 0.69, due to expectations of a slower recovery in EBIT profit margins [1] Group 3: Catalysts for Growth - The luxury goods group LVMH has indicated improvements in its mainland business in Q3, and the upcoming opening of Hang Lung Plaza in Hangzhou, which has already pre-leased 83% of its retail space and 27% of its office space, is expected to be a significant growth catalyst, contributing notably by 2027 [1]

Core Viewpoint - Morgan Stanley has raised the target price for Hang Lung Properties (00101) from HKD 9 to HKD 10.5 due to improved fundamentals and a narrowing NAV discount from 60% to 50%, maintaining an "Overweight" rating [1] Group 1: Financial Performance - The mainland retail business of the group has started to improve, with tenant sales in Shanghai's Grand Gateway 66 and Plaza 66 increasing by 31% and 8% year-on-year in Q3, compared to a 10% increase and an 8% decline in the first half of the year [1] - During the first four days of the National Day Golden Week, overall tenant sales in mainland malls increased by 15% year-on-year, with Wuhan's Heartland 66 and Shanghai's Grand Gateway 66 recording over 70% and 50% year-on-year increases, respectively [1] Group 2: Earnings Forecast - The bank has lowered its earnings per share forecasts for 2026 and 2027 to HKD 0.62 and HKD 0.68, respectively, from previous estimates of HKD 0.65 and HKD 0.69, due to expectations of a slower recovery in EBIT margins from now until 2027 [1] Group 3: Catalysts for Growth - The luxury goods group LVMH has indicated improvements in its mainland business in Q3, and the upcoming opening of the Hang Lung Plaza in Hangzhou, which has already pre-leased 83% of its retail space and 27% of its office space, is expected to be a significant growth catalyst, contributing notably by 2027 [1]

Core Viewpoint - Morgan Stanley raised the target price for Hang Lung Properties from HKD 9 to HKD 10.5 due to improved fundamentals and a narrowing NAV discount from 60% to 50, maintaining an "Overweight" rating [1] Group 1: Retail Performance - The mainland retail business of the group is showing signs of recovery, with tenant sales in Shanghai's Plaza 66 and Hang Lung Plaza increasing by 31% and 8% year-on-year in Q3, compared to 10% growth and an 8% decline in the first half [1] - During the National Day Golden Week, overall tenant sales in mainland malls grew by 15% year-on-year in the first four days, with Wuhan Hang Lung Plaza and Shanghai Plaza 66 recording year-on-year increases of over 70% and 50%, respectively [1] Group 2: Key Catalysts - The luxury goods group LVMH indicated an improvement in mainland operations in Q3, alongside the establishment of a gold shop at Plaza 66 and the opening of Hang Lung Plaza in Hangzhou, which are seen as key catalysts [1] - Hang Lung Plaza in Hangzhou has already pre-leased 83% of its retail space and 27% of its office space, expected to contribute significantly by 2027 [1]

Core Viewpoint - DBS Research indicates that Hang Lung Properties' overall tenant sales in mainland China grew by 10% year-on-year in Q3 2025, primarily driven by Shanghai's Plaza 66, with Wuhan's performance stabilizing and gradual openings in Hangzhou expected to support future rental income growth [1] Group 1: Sales Performance - Tenant sales in mainland China increased by 10% year-on-year in Q3 2025 [1] - Shanghai Plaza 66 was the main contributor to this growth, while Wuhan's sales performance is stabilizing [1] Group 2: Future Developments - Hangzhou Plaza is set to gradually open, with office buildings and shopping mall sections expected to commence operations in phases starting this year and Q2 next year, achieving pre-leasing rates of 27% and 83% respectively [1] Group 3: Investment Outlook - DBS believes that Hang Lung's valuation remains attractive, especially for long-term investors seeking exposure to China's high-end retail sector [1] - The target price for Hang Lung has been raised from HKD 9.38 to HKD 10, maintaining a "Buy" rating [1]

Core Viewpoint - DBS has released a report stating that the valuation of Hang Lung Properties (00101) remains attractive, particularly for long-term investors seeking to invest in China's high-end shopping mall sector. The report anticipates that any further consumer stimulus policies introduced by authorities could enhance its investment appeal, maintaining a "Buy" rating and raising the target price from HKD 9.38 to HKD 10 [1] Group 1: Company Performance - Hang Lung is recognized as a leading commercial real estate developer in China, holding a portfolio of commercial properties for long-term investment purposes. The company expects rental income to improve due to enhanced tenant sales and portfolio expansion [1] - The overall tenant sales of Hang Lung's shopping malls in mainland China are projected to increase by 10% year-on-year by the third quarter of 2025, primarily driven by the performance of Shanghai's Plaza 66. The sales performance of Wuhan's Hang Lung Plaza is also stabilizing [1] Group 2: Future Developments - The Hang Lung Plaza in Hangzhou is set to gradually open, with office buildings and shopping mall sections scheduled to be phased in starting this year and the second quarter of next year. The pre-leasing rates are expected to reach 27% and 83%, respectively, which is believed to support rental income growth in the coming years [1]

Core Viewpoint - DBS has released a report indicating that the valuation of Hang Lung Properties (00101) remains attractive, particularly for long-term investors seeking opportunities in China's high-end shopping mall sector. The report maintains a "Buy" rating and raises the target price from HKD 9.38 to HKD 10 [1] Group 1: Company Performance - Hang Lung is recognized as a leading commercial real estate developer in China, holding a portfolio of commercial properties for long-term investment purposes [1] - The report anticipates improvements in tenant sales and expansion of the property portfolio, which are expected to drive rental income growth [1] Group 2: Market Trends - Overall tenant sales in Hang Lung's mainland China malls are projected to increase by 10% year-on-year by the third quarter of 2025, primarily driven by the performance of Shanghai's Plaza 66 [1] - The sales performance of Wuhan's Hang Lung Plaza is stabilizing, while the Hang Lung Plaza in Hangzhou is set to gradually open, with office buildings and mall sections expected to be phased in starting this year and the second quarter of next year, achieving pre-leasing rates of 27% and 83% respectively [1]