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BOC International: Maintaining Haier Smart Home's “Buy” Rating and Raising the Target Price to HK$35.8
BOC International released a research report stating that maintaining Haier Smart Home (06690)'s “buy” rating, the target price was raised to HK$35.8, taking into account the gradual implementation of the policy, the improved development of the North American market, the improvement in profits in the European market, the certainty of performance growth and the increase in dividend payout rates. The company's 2023 performance is in line with expectations, and dividends exceed expectations; the dividend plan that exceeds market expectations drives the company's stock price performance today. According to the report, Haier's high-end brand Casadi aims for double-digit growth in 2024: the company will make strategic adjustments to the Casadi brand, which contributes double digits in revenue in 2023, including 1) product upgrades.
BOC International: Maintaining the “Buy” Rating Target Price of HK$48.7 for Lingzhan Real Estate Fund
BOC International released a research report stating that it maintains the “buy” rating of Lingzhan Real Estate Fund (00823), with a target price of HK$48.7. Although overall dividends for the fiscal year ending at the end of March 2024 will still decline due to the dilution of last year's share supply, the bank believes that Linzhan's performance in the first three quarters of fiscal year 2024 has remained generally stable, and rents are expected to record moderate increases to offset the impact of rising interest rates. Meanwhile, the stock currently predicts a dividend rate of 7.7%, which is about 350 points higher than the 10-year US Treasury interest rate. I believe the stock price fully reflects concerns about retail and interest rate uncertainty.
BOC International (03329) subsidiary invested $10 million to subscribe for 33.33% interest in Taiping GBA Inno-Tech Limited Partnership Fund
Zhitong Finance App News, BOC International (03329) issued an announcement. On March 27, 2024, the subsidiary BOC International Changsheng Investment Co., Ltd. was notified by general partner Taiping Financial Investment Co., Ltd., that the general partner had accepted the subsidiary to pledge 10 million US dollars (equivalent to the partnership Taiping GBA Inno-Tech Limited Partnership Fund about 33.33% of the total capital contribution amount) on the date of this announcement Apply. According to the announcement, subscription matters
Bocom International's CEO Steps Down; Successor Named
Zhu Chen has resigned as Bocom International Holdings' (HKG:3329) chief executive officer effective Wednesday, due to work reassignment, a same-day filing on the Hong Kong bourse said. Zhu has also be
BOC International: Maintaining CIMC's “Buy” Rating and Lowering Target Price to HK$9.04
BOC International released a research report stating that maintaining CIMC's “buy” rating (03899), future profits will still depend on the clean energy sector to grow, and the target price will be reduced by 7.94% from $9.82 to HK$9.04. According to the report, the revenue and gross profit of the clean energy sector increased by 41% and 44% respectively in 2023, higher than expected. It is believed that the sector is still growing rapidly. The Group raised the final interest rate by 25%, and the annual dividend ratio increased 8 percentage points year on year to 49%. The bank expects the Group's profit compound to grow by about 11% over the next three years, slightly lowering the Group's 2024 earnings per share forecast by 1%
BOC International: Maintaining the “neutral” rating of the card transfer and lowering the target price by 12.5% to HK$14
BOC International released a research report stating that it maintains the “neutral” rating of Moving Card (09923) and believes that although there is potential for business growth in the Chinese market, the growth rate will slow down under a high base, and the target price will be lowered by 12.5% to HK$14 from HK$16. The company's payment business performed well. In 2023, revenue increased 16% year over year to 4 billion yuan (same below), and adjusted EBITDA increased 161% year over year to 560 million yuan, in line with the bank's expectations. According to the report, the rapid growth of the credit card payment business has benefited from the recovery of offline consumption and the expansion of agent channels, with payment revenue of 3.5 billion yuan. The bank believes that its payment industry
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