China Merchants Securities sets HKD 39.42 target for China Resources Land stock

China Resources Land (ISIN KYG2108Y1052) received a HKD 39.42 target from China Merchants Securities on September 28, 2026, alongside a Strong Buy rating, according to Futubull. China Resources Land stock stood at EUR 3.46 at Lang & Schwarz on October 20, 2026 at 8:45 p.m. CEST.

Recurring income gains weight

The analyst case rests on a shift in earnings mix. In the first half of 2026, recurring-business revenue rose 9.90 percent year over year to RMB 22.60 billion, while recurring operations contributed 65.50 percent of core net profit. The interim report also recorded core net profit of RMB 10.16 billion, up 1.60 percent from the prior year, according to Futubull.

Development remains the counterweight

The stronger recurring businesses have not erased pressure in property development. First-half revenue fell 28.50 percent to RMB 67.87 billion, while development and sales revenue declined 39.10 percent to RMB 45.26 billion. By contrast, operating real estate revenue increased 16.90 percent to RMB 14.16 billion, creating a clear split between the two main earnings engines.

Valuation and payment date

China Resources Land traded at HKD 30.38 on the Hong Kong Stock Exchange at 4:08 p.m. HKT on October 20, 2026, with a market capitalization of HKD 216.6 billion and a price-to-earnings ratio of 7.88. The 52-week range was HKD 26.70 to HKD 39.88. The interim dividend is RMB 0.20 per share and is scheduled for payment on October 28, 2026, according to Simply Wall St.

What supports the target?

China Merchants Securities linked its target to recurring profit growth, shopping-center operations and the company's asset-management transition. The report put 2026 earnings per share at RMB 2.90 and projected RMB 3.23 for 2027, a forecast increase of 11.00 percent. It also identified development sales and land-acquisition risks as factors that could limit the recovery.

Stock position

The euro quotation gives German investors a current after-hours reference, while the Hong Kong listing provides the company's primary market context. The combination of a 9.90 percent increase in recurring-business revenue and a 28.50 percent fall in total first-half revenue leaves the operating mix, rather than headline sales alone, as the central valuation question.

China Resources Land stock stood at EUR 3.46 at Lang & Schwarz on October 20, 2026 at 8:45 p.m. CEST.

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