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交銀國際:2023 年度報告
BOC International: Maintaining China Financial Insurance's “Buy” Rating and Raising the Target Price to HK$12
BOC International released a research report stating that the target price of China Financial Insurance (02328) will be raised by 14% from HK$10.5 to HK$12 based on the market account ratio of 1x in 2024 to maintain the “buy” rating. The company's leading market position is stable, its profitability is stable, its dividend capacity is sustainable, and its high dividend attributes are outstanding. The bank expects the company's underwriting profit and investment income to improve in 2024. Net profit to mother is expected to increase 7% per year, and ROE is expected to remain at 11%. The return on investment is expected to improve slightly in 2024.
BOC International: Maintaining Tencent's “Buy” Rating and Raising Target Price to HK$395
BOC International released a research report saying that maintaining Tencent's (00700) “buy” rating, it is expected that high marketing expenses will not continue in the fourth quarter of last year. The company will continue to maintain the trend of gross profit growing faster than revenue and operating profit growing faster than gross profit, increasing operating profit by 8%/6% in 2024/25. The target price was raised from HK$390 to HK$395. The bank expects that in the second quarter, with the steady operation of old games and confirmed revenue in the first quarter, plus the launch of new games (Dungeons and Warriors), the growth rate of Tencent's game revenue will be positive, and the performance for the whole year will be low and high. BOC International's main views are as follows: Recent updates on local mobile game sales
BOC International: Maintaining NetEase's “Buy” rating and looking forward to the launch of major mobile games this year to boost revenue
BOC International released a research report stating that it maintains the NetEase S (09999) “Buy” rating and expects the launch of the blockbuster mobile games “Eternity Mobile Game” and “16 Voices of Yan Yun” this year to boost game revenue growth. Blizzard China and the company jointly announced an updated agreement to return to the Chinese market one after another from this summer. The bank believes that Blizzard's resumption of cooperation will have limited impact on short-term performance, and that the agreement with Microsoft will help enhance the space for long-term overseas cooperation between the two sides. The report points out that the agreement between the two sides to promote the launch of new NetEase games on platforms such as XBOX will benefit NetEase's multi-terminal layout for overseas games. Previously, the two sides agreed on agency services in the mainland
BOC International: Maintaining China Biopharmaceutical's “Buy” Rating Target Price of HK$4.8
BOC International released a research report stating that it maintains the “buy” rating of China Biopharmaceuticals (01177), with a target price of HK$4.8, and is optimistic that the 2024 performance recovery and the value of the innovation pipeline will continue to be realized. The company recently established a strategic partnership with Boehringer Ingelheim (BI). The bank believes that this cooperation will further consolidate the company's multi-target layout in the field of solid tumors, have strong collaboration with existing products, and increase the company's revenue and profits. BOB International's main views are as follows: Cooperation in the field of major oncology is highly collaborative with existing pipelines: the company recently established a strategic partnership with Boehringer Ingelheim (BI), and together
Bocom International's Unit to Dispose of $23 Million Senior Notes
Bocom International Holdings (HKG:3329) unit BOCOM Securities received an offer to dispose of $23.3 million senior notes by SiriusPoint, according to a Friday filing on the Hong Kong bourse. The notes
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