Jinwu Financial News | According to the HSBC Global Research and Development Report, Haifeng International (01308)'s first-quarter turnover increased 7.5% compared to the same period last year; freight rates stabilized at 597 US dollars per standard container due to rising industry costs and volume. The bank expects that market interest rates will remain fluctuating in a weak situation, but this will be enough to increase Haifeng's profits in 2024.
The bank raised Haifeng's 2024 profit forecast by 9-10%, and raised the group's dividend payout ratio for 2024 and 2025-26 from 80% and 100% to 90% and 110%. The target price was increased by 23.5% from HK$17 to HK$21, maintaining the “buy” rating.