DividendAttractive dividend yield offers downside protection.
Earnings StabilitySufficient backlog to alleviate potential earnings drag from slower new orders in the medium term.
Financial PerformanceCommercial PJM revenues grew 23% YoY, mainly due to support from revenue linked to property sales, with contract sales up 14% YoY to RMB41.1bn in 1H24, significantly outperforming peers.