Ge Long Hui·2026-01-21 06:44Core Viewpoint - Daiwa Capital Markets forecasts that China Overseas Land & Investment's core net profit will decline by 18.1% year-on-year in 2025, primarily due to a decrease in property development gross margins and impairment pressures [1] Group 1: Financial Performance - The company's attributable land investment amount is expected to increase by 33% year-on-year, surpassing management's target and significantly concentrated in first-tier core cities [1] - The profit forecasts for China Overseas Land & Investment for 2025 to 2027 have been revised down by 14.6%, 23.7%, and 27.4% respectively [1] Group 2: Target Price and Rating - The target price based on net asset value has been reduced by 9.2% to HKD 15.14, while maintaining a "Buy" rating [1]