<div id="readability-page-1"><div>BofAS published a research report maintaining a positive view on Chinas real estate sector, believing the recovery will be phased and differentiated. The broker noted that sector fundamentals have upside potential, mainly driven by pricing power of luxury residential projects in Tier-1 cities and signs that more Tier-2 city markets are bottoming out. It maintained a constructive stance on the sector, particularly favoring the high-end residential segment.BofAS raised the TP for CHINA OVERSEAS (00688.HK) +0.010 (+0.064%) Short selling $56.44M; Ratio 34.370% from HKD17 to HKD19 to reflect upward revisions to its 2028 EPS forecasts, and maintained a Buy rating. The broker explained that the TP hike was due to higher profit margin forecasts and the rollover to 2028 projections. It noted that quality state-owned enterprises are currently trading at around 8.5x projected 2028 price-to-earnings, slightly above historical averages, and valuations still have upside potential if the recovery is confirmed. Its top picks in the China property sector are CHINA OVERSEAS (00688.HK) +0.010 (+0.064%) Short selling $56.44M; Ratio 34.370% , CHINA RES LAND (01109.HK) +0.420 (+1.205%) Short selling $131.76M; Ratio 33.982% and C&amp;D INTL GROUP (01908.HK) -0.110 (-0.679%) Short selling $3.42M; Ratio 10.478% .BofAS expects the recovery to be gradual and phased over the coming year. It forecasts that in 2026, national new home sales volume and value will decline by 6% to 7% and 8% to 9%, respectively, before stabilizing in 2027. The broker highlighted that CHINA OVERSEAS (00688.HK) +0.010 (+0.064%) Short selling $56.44M; Ratio 34.370% recorded YoY single-digit growth in contracted sales during the May Day Golden Week period, though growth moderated after the holiday. The company plans to launch more large-scale new projects in June, but will face a higher comparison base from May to June. Overall pricing remains stable, with slight price increases in certain projects. (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-21 12:25.)</div></div>

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BofAS has raised the target price for CHINA OVERSEASfrom HKD17 to HKD19, maintaining a Buy rating due to improved profit margin forecasts and positive sector outlook. The report highlights a phased recovery in China's real estate sector, particularly in luxury residential projects in Tier-1 cities. BofAS expects gradual recovery, with national new home sales projected to decline before stabilizing in 2027. Key picks include CHINA OVERSEAS, CHINA RES LAND, and C&D INTL GROUP.

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BofAS Lifts CHINA OVERSEAS  TP to HKD19, Positive on Sector Recovery