Takeaways from virtual property conference
■ Longfor does not expect the government to loosen policy on property markets
anytime soon due to strong property markets and high land prices.
■ Management, however, thinks that land prices could come off in 2H21 when
there is more supply and tighter liquidity for developers.
■ Reiterate Add with a TP of HK$57 (par to NAV). It is our large-cap top pick.