智通财经网·2026-02-06 03:40Core Viewpoint - Morgan Stanley's report indicates that Sun Hung Kai Properties (00016) is expected to announce its interim results for the fiscal year ending December 2026 at the end of February, with a projected 13% year-on-year increase in basic earnings per share to HKD 3.89, while maintaining an interim dividend of HKD 0.95 per share [1] Group 1: Financial Performance - The expected basic earnings per share for the first half of the fiscal year is projected to be HKD 3.89, reflecting a 13% increase compared to the previous year [1] - The interim dividend is anticipated to remain unchanged at HKD 0.95 per share [1] Group 2: Property Development Insights - The report highlights that the profit margin for property development projects may reach high double-digit levels due to the accounting of low-cost completed inventory and recent price increases for new sales [1] - The Sierra Sea Phase 2A & 2B projects are performing well, and the company is expected to launch a luxury project, Tianxi-Hai Phase 2, in the Kai Tak runway area [1] - The average transaction price for the first phase exceeded HKD 50,000 per square foot, with initial pricing for the second phase expected to exceed HKD 45,000 per square foot, potentially yielding a profit margin of over 15% [1] Group 3: Investment Rating - Morgan Stanley has assigned an "Overweight" rating to Sun Hung Kai Properties, with a target price set at HKD 120 [1]