智通财经网·2025-09-11 03:50Core Viewpoint - UBS reports that Kerry Properties (00683) will launch the second phase of its Shanghai residential project, Jinling Huating, with 120 units at an average price of RMB 205,000 per square meter, an 8% increase from the first phase sold in March [1] Group 1: Project Details - The second phase of Jinling Huating will consist of 120 units, with a total estimated value of RMB 9.8 billion [1] - The average selling price for the new units is projected to be RMB 205,000 per square meter, reflecting an 8% price increase compared to the first phase [1] Group 2: Sales Performance and Financial Outlook - The strong sales performance of the first phase in March has led to an optimistic outlook for the second phase, with expectations of further price increases for the remaining 40 units [1] - Approximately half of the contracted sales revenue from the first phase is still pending recognition, which, along with the total saleable resources from the second phase, is expected to reduce the company's net debt ratio to 22% and decrease net debt by 42% [1] Group 3: Analyst Rating - UBS maintains a "Buy" rating for Kerry Properties, with a target price set at HKD 24 [1]