Morgan Stanley published a report raising the target price of China's Jinmao from HK$1.2 to HK$1.32, maintaining a “in sync with the market” rating. In response to a 27% year-on-year increase in the company's property sales for the first nine months of this year, the bank raised its full-year forecast by 11% to RMB 118 billion, which means a 20% year-on-year increase, along with a 6%, 10% and 11% increase in revenue forecasts for the years 2025 to 27. Furthermore, the bank raised the gross margin forecast for the development business from 2025 to 27 by 2.2, 2.9 and 3.9 percentage points, respectively, to 11.5%, 13%, and 12.6%, compared with 11% in 2024, as the average sales price performance of new projects in recent years was better than expected. Taking into account the increase in tax expenses, the bank lowered its earnings per share forecast by 1% for 2025, compared to 12% and 14% for 26 and 27, respectively.

Morgan Stanley published a report raising the target price of China's Jinmao from HK$1.2 to HK$1.32, maintaining a “in sync with the market” rating. In response to a 27% year-on-year increase in the company's property sales for the first nine months of this year, the bank raised its full-year forecast by 11% to RMB 118 billion, which means a 20% year-on-year increase, along with a 6%, 10% and 11% increase in revenue forecasts for the years 2025 to 27. Furthermore, the bank raised the gross margin forecast for the development business from 2025 to 27 by 2.2, 2.9 and 3.9 percentage points, respectively, to 11.5%, 13%, and 12.6%, compared with 11% in 2024, as the average sales price performance of new projects in recent years was better than expected. Taking into account the increase in tax expenses, the bank lowered its earnings per share forecast by 1% for 2025, compared to 12% and 14% for 26 and 27, respectively.