Slowdown in China Retail Is not Structural, Hang Lung Well-Positioned to Reap Future Growth
Year to date, shares of Hang Lung Properties dropped almost 20%, underperforming the market by 5%. The poor performance was attributed to an increasing anxiety over a decline in the Hong Kong property market, coupled with a slowing retail sales growth in China. However, we believe these risk factors have been more than priced in. The company has very limited exposure to the Hong Kong residential real estate sector. Its retail assets in China are centrally located and well managed with excellent ...Hang Lung Properties is an investment holding company. Through its subsidiaries, Co. is engaged in property investment for rental income, property development for sales and leasing, car park management and property management. Co. segments include: property leasing in Hong Kong and mainland China; and property sales in Hong Kong. Co's property leasing segment includes property leasing operation. Co.'s investment properties portfolio consists of retail, office, residential, serviced apartments and carparks are primarily located in Hong Kong and mainland China. Co.'s property sales segment includes development and sale of Co.'s trading properties in Hong Kong.
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