Xin Lang Cai Jing·2026-02-03 03:59Company Insights - Swire Properties (01972) shares increased by nearly 3%, trading at HKD 23.8 with a transaction volume of HKD 15.33 million [1] - CICC's research report predicts that Swire Properties' attributable and recurring underlying profit will grow by 21% and decline by 5% respectively in 2025 [1] - CICC believes that the overall operating conditions of the company's core assets will show a steady improvement in the second half of 2025 compared to the first half, with the execution speed of the capital recycling plan exceeding expectations [1] - The company is expected to maintain its dividend commitment, with an estimated total annual dividend of HKD 1.15 per share, corresponding to a 5% dividend yield [1] Industry Insights - Morgan Stanley suggests that many companies' stock prices have reached or are close to historical highs, indicating that the market has priced in a stable recovery of the Hong Kong property market over the next two years [1] - At this juncture, Morgan Stanley believes that rental stocks have greater potential for upward movement, as improvements in their commercial real estate businesses have not yet been fully reflected in stock prices, with most still 30% lower than peak levels [1] - Morgan Stanley's top picks include Hang Lung Properties and Swire Properties, as both stocks are benefiting from ongoing improvements in retail operations in mainland China [1]