Ge Long Hui·2025-11-13 06:19Core Viewpoint - Morgan Stanley believes that China Resources Land's stock price will experience absolute growth in the next 30 days, with a probability of over 80% [1] Group 1: Sales and Rental Performance - Strong mall operations have driven October same-store sales and rental income to outperform expectations, with a year-on-year increase of 17%, raising the cumulative rental growth for the first ten months of this year to 13% [1] - Despite a high base in the fourth quarter, same-store sales growth for the year is expected to remain above 10%, with rental growth projected at 13% to 14% [1] Group 2: Profit Contribution and Ratings - With improved operational leverage, it is anticipated that the recurring profit contribution will increase to approximately 50% of core earnings this year, compared to 41% in 2024 [1] - Morgan Stanley has assigned a "Buy" rating to China Resources Land with a target price of HKD 39.3 [1]