CITIC Lyon said the newly founded group's recurring profit for the first half of fiscal year 2024 reached 52% of its full-year forecast.
The Zhitong Finance App learned that CITIC Lyon released a research report stating that it gave Xinchuang Group (00659) a “outperforming market” rating, and that the interim results were mainly driven by a special dividend. The Group's recurring profit for the first half of fiscal year 2024 increased 13% to HK$1.3 billion, which is the bank's forecast of 52% for the full year. Hong Kong businesses such as the Hong Kong Convention and Exhibition Center and Fortis Insurance performed well. Meanwhile, rent growth and occupancy rates at container logistics centers in Asia remained healthy, while mainland toll roads were affected by exchange rates during the period, but profits grew moderately.