Jinwu Financial News | According to Galaxy Securities Research Report, Longhu Group (00960) issued the 2023 results announcement. In 2023, the company achieved operating income of 18.737 billion yuan, a year-on-year decrease of 27.87%; net profit to mother of 12.85 billion yuan, a year-on-year decrease of 47.25%; and achieved a basic profit of 2.07 yuan per share.
According to the bank, the company's finances are stable, leverage is strictly controlled, and financing channels are smooth. Affected by factors such as the overall decline in the industry and the decline in gross margin, the company's performance fell 47.25% year on year in 2023; due to the company's continued focus on the core, sales volume decreased and price increased in 2023; operating business achieved positive year-on-year growth, and the maintenance of high occupancy rates for commercial and long-term rental apartments reflected the company's strong management capabilities.
The bank adjusted its 2024-2025 performance forecast based on 2023 results. The bank expects net profit to be 12.850 billion yuan, 13.871 billion yuan, and 14.704 billion yuan in 2024-2026, EPS of 1.90 yuan/share, 2.05 yuan/share, 2.17 yuan/share, corresponding PE of 5.20X, 4.82X, and 4.55X, maintaining the “recommended” rating.