Goldman Sachs: Maintaining China Resources Vientiane Life (01209) “Buy” Rating Expected to Increase Annual Profit by 10%

The Zhitong Finance App learned that Goldman Sachs released a research report saying that China Resources Vientiane Life (01209)'s profit is expected to achieve double-digit growth in the first half of the year, in line with management's full-year double-digit growth guidelines, mainly driven by the steady expansion of the shopping center portfolio, steady rent growth, and the development of urban space services. The bank expects the dividend payout ratio to remain unchanged in the first half of the year, that is, 100% of the core profit will be distributed after taking into account the special dividend, maintaining the “buy” rating, and the target price of HK$52 will remain unchanged.

In response to falling office rental revenue expectations and a possible slowdown in value-added service revenue, Goldman Sachs lowered China Resources Vientiane Life's 2026-2028 earnings forecast by an average of about 1%. Currently, it predicts that 2026 earnings will increase by about 10%, while maintaining a low double-digit growth forecast for 2027 to 2028.