Core Viewpoint - Zhaoyin International's report indicates that Greentown Service (02869) achieved a 22.6% year-on-year increase in net profit and a 25.3% growth in core operating profit, significantly exceeding the group's full-year growth guidance of 15% [1] Financial Performance - Revenue increased by 6.1% year-on-year, with core property management business showing resilience and a 10.2% revenue growth, primarily driven by the expansion of third-party non-residential projects [1] - The improvement in profit margins is attributed to the optimization of project management and enhanced operational efficiency [1] Investment Rating - Zhaoyin International maintains a "Buy" rating for Greentown Service, raising the target price from HKD 6.13 to HKD 6.61, with expectations that the growth trend observed in the first half of the year will be sustainable [1]
招银国际：维持绿城服务“买入”评级 目标价升至6.61港元