Earnings ForecastPrice cuts, coupled with elevated land costs in pre-2022 acquisitions, should weigh heavily on developers' FY23 results.
Financial PerformancePotential Impairment Risks: Despite positive results, there is concern over impairment risks due to a downtrend in secondary property prices.
Stock PerformanceStocks - SOE developers have underperformed HSI by ~20% amid sluggish sales, extended property price decline and fading policy expectations.