Orient Securities Company Limited(600958) maintain the China Merchants Property Operation & Service Co.Ltd(001914) overweight rating: initial divestiture of heavy assets, optimization of asset structure, focus on the main business, and the management efficiency is expected to be improved

Orient Securities Company Limited(600958) on January 28, the research report said that the overweight rating of China Merchants Property Operation & Service Co.Ltd(001914) (001914. SZ) was maintained. The reasons for rating mainly include: 1) previous mergers and acquisitions have landed continuously, and non residential properties have maintained a leading position; 2) Build the flagship of property management of central enterprises, and the management and operation efficiency is expected to be further improved. Risk tip: the stripping of real estate business is uncertain. Profit margin improvement was lower than expected. The uncertainty of expanding the market.