Bank of America Securities published a research report saying that after Lingzhan announced the update for the first fiscal quarter ending at the end of June, the bank believes that its argument of gradual stabilization is still valid, but there is little chance of quickly reversing the situation. On the positive side, retail rents in Hong Kong continued to stabilize in real time, and retail rent renewal rates in the Mainland increased 2.7% year over year. Management expects the retail rent adjustment in Hong Kong to maintain negative mid-single-digit growth in the first half of fiscal year 2027 ending at the end of September, but due to the high comparison base for the second half of the fiscal year ending at the end of March next year, it will still maintain the target of a high single-digit decline for the whole year. Assuming there is no significant increase in interest rates, the bank predicts a 2% year-on-year decline in allocations per fund unit in the first half of the fiscal year and 2027 fiscal year. The bank believes that Lingzhan's valuation has attracted and has potential catalysts to maintain a “buy” rating and target price of HK$46. The predicted dividend rate of 6.4% for fiscal year 2027 is still attractive, and is supported by Hong Kong's stable fundamentals, non-core asset sales and repurchase units.

Bank of America Securities published a research report saying that after Lingzhan announced the update for the first fiscal quarter ending at the end of June, the bank believes that its argument of gradual stabilization is still valid, but there is little chance of quickly reversing the situation. On the positive side, retail rents in Hong Kong continued to stabilize in real time, and retail rent renewal rates in the Mainland increased 2.7% year over year. Management expects the retail rent adjustment in Hong Kong to maintain negative mid-single-digit growth in the first half of fiscal year 2027 ending at the end of September, but due to the high comparison base for the second half of the fiscal year ending at the end of March next year, it will still maintain the target of a high single-digit decline for the whole year. Assuming there is no significant increase in interest rates, the bank predicts a 2% year-on-year decline in allocations per fund unit in the first half of the fiscal year and 2027 fiscal year. The bank believes that Lingzhan's valuation has attracted and has potential catalysts to maintain a “buy” rating and target price of HK$46. The predicted dividend rate of 6.4% for fiscal year 2027 is still attractive, and is supported by Hong Kong's stable fundamentals, non-core asset sales and repurchase units.