美林证券-中国&香港房地产-买入.pdf
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Shanghai’s SOE restructuring is gaining momentum; we
believe Shanghai Industrial (363 HK) is well-positioned to
benefit, especially on the property side, thanks to its
supportive and resourceful parent. In addition, the
acquisition of 45% in Neo-China should set the stage for
sustainable growth. With strong interim results ahead, we
reiterate Buy rating on strong outlook and attractive
valuation


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