Ge Long Hui·2025-10-13 03:21Core Viewpoint - Morgan Stanley's research report indicates that CR Mixc, a shopping mall under China Resources Land, recorded low single-digit same-store sales growth during the Golden Week, contributing to an overall retail sales increase of over 25% year-on-year for the mall [1] Group 1: Sales Performance - The same-store sales growth for high-end malls exceeded 20% year-on-year [1] - The growth is attributed partly to the overlap of the National Day and Mid-Autumn Festival holidays, but CR Mixc's performance outpaced its peers due to its expanding market share [1] - Year-to-date same-store sales growth is recorded at low single digits, while overall retail sales for the first nine months of the year increased by 20% to 25% year-on-year [1] Group 2: Revenue Expectations - The company is expected to exceed management's original forecast for annual rental income, projecting a year-on-year growth of 13% [1] - Morgan Stanley continues to list the stock as a preferred pick with a target price of HKD 39.3 and maintains an "Overweight" rating [1]