Tianfeng Securities Co.Ltd(601162) maintain the China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) buy rating. Comments on the business announcement in January: the sales in the first month decreased year-on-year and the average sales price increased month on month

The research report released on February 13 said that it maintained the buy rating of China Merchants Shekou Industrial Zone Holdings Co.Ltd(001979) (001979. SZ). Reasons for the first month of sales: the average sales rate decreased year on year; 2) Replenishment is concentrated in East China, and the proportion of land acquisition in low-energy cities has increased; 3) The land acquisition strength decreased in the month, and the floor price decreased compared with the previous month. Risk tip: house prices fell sharply, sales fell short of expectations, and macroeconomic fell short of expectations.