<div id="readability-page-1"><div><p>CHINA OVERSEAS (00688.HK)<span> </span><span> +0.260 (+1.625%)  </span> <span> Short selling $163.39M; Ratio 74.200%  </span>  opened 0.75% higher today (13th) and once peaked at HKD16.36. It is now trading at HKD16.27, up 1.69%, with turnover of 12.3973 million shares, involving HKD201 million.</p><p>M Stanley issued a research report stating that CHINA OVERSEAS is a key beneficiary of the recovery in the property market in tier-one cities. The broker upgraded its rating from Neutral to Buy and added the company to its Asia-Pacific focus list. The broker raised its TP from HKD13.8 to HKD25.</p><p>The report noted that about half of CHINA OVERSEAS' saleable resources in 2026 are located in tier-one cities, higher than the industry average of 29%, mainly due to increased land acquisitions in 2025, of which 74% were in tier-one cities (industry average: 57%). The broker expects the companys contracted sales to record the first growth in five years in 2026, up 10% YoY. It expects the next share price catalyst to be the contracted sales data in June 2026, as the company will launch major new projects in Shanghai and Shenzhen.</p><p>Based on expectations of stabilizing home prices in tier-one cities and a forecast of 10% YoY growth in contracted sales in 2026, M Stanley raised its gross margin forecasts for 2026 to 2028 by an average of 3 ppts and lifted its earnings forecasts for the same period by an average of 58%. Its earnings forecasts for 2027 to 2028 are 7% to 23% above market consensus.</p></div></div>

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<p>CHINA OVERSEASsaw a 1.7% increase in stock price after M Stanley upgraded its rating from Neutral to Buy, raising the target price from HKD13.8 to HKD25. The report highlights the company's strong position in tier-one cities, with expectations of a 10% YoY growth in contracted sales in 2026. M Stanley also increased its earnings forecasts for 2026-2028 by an average of 58%, anticipating stabilizing home prices and significant new project launches in Shanghai and Shenzhen.</p>

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Morgan Stanley

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CHINA OVERSEAS  +1.7%; M Stanley Upgrades to Buy, Lifts TP to HKD25