China Resources Land Ltd
01109: XHKG (HKG)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| Fh | LOCK|@Bs | LOCK|hl@<$d |
CR Land Earnings: Top-Line Beat on Strong Property Bookings; Margin Expansion Prospect Intact
China Resources Land delivered strong 2024 results as 11% year-on-year revenue growth exceeded our forecast. While property development's 16.8% gross margin remained below 20.7% for 2023, it rose sequentially in the second half due to higher sales mix in wealthy cities.
