BUY
Last Traded Price (28 Jun 2021): HK$0.260 (HSI : 29,268)
Price Target 12-mth: HK$0.345 (33% upside) (Prev HK$0.335)
Analyst
Jeff YAU CFA, +852 36684180 jeff_yau@dbs.com

Investment Thesis
BUY with HK$0.345 TP. The stock is trading at an 81% discount to our assessed current NAV. Share buyback signals CSI Properties’s strong underlying value. Improving luxury sector sentiment should facilitate the company’s luxury home sales, providing upside on stock price.