Country Garden Services (6098.HK), up 6.22%, plans to launch property service robots on campus this year

2022-05-03 0 By

Glonhui February 4 by Country Garden Services (6098.HK) rose 6.22% to HK $48.7, with a total market capitalization of HK $163.9 billion.The company said on Jan 29 that country Garden hopes to use its property service robots in partner universities as the first trial units this year and in 10,000 residential communities, airports, schools and industrial parks across the country next year.Cicc forecast on Jan 28 that country Garden Services’ net profit will grow 58 percent year-on-year to 4.25 billion yuan in 2021.The bank also expects country Garden services to proceed smoothly in 2021, with high growth in management scale and continued strong growth in community value-added services.Cicc raised its 2021 and 2022 net profit to 4.25 billion yuan and 6.31 billion yuan by 5% and 7% (up 58% and 49% year on year), while introducing its profit forecast for 2023, which is expected to net profit to 8.41 billion yuan, up 33% year on year, and maintaining the company’s target price of HK $76.0.Maintain an outperform rating for the sector, with 66% upside and 35 times 2022 target P/E.