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CICC: Maintaining a unified enterprise, China's “outperforming industry” rating target price rises to HK$7.5
CICC released a research report stating that it maintained the unified enterprise China (00220) “outperforming the industry” rating, raised the 2024 and 2025 profit forecasts by 11% each to RMB 1.72 billion and RMB 1.89 billion, respectively, and raised the target price by 15% to HK$7.5 billion. The company's overall revenue growth in the first quarter of 2024 was low by double digits, achieving net profit of 457 million yuan (same below), a year-on-year decrease of 6.3%. After excluding the revenue from the Hefei factory's land sale in the first quarter of the year (about 256 million yuan), comparable net profit doubled year-on-year and exceeded expectations, mainly due to an increase in gross margin that was better than expected. Should
Changes in Hong Kong stocks | Chinese brokerage stocks rose in the afternoon, and brokerage performance in the second half of the year is expected to gradually improve, and mergers, acquisitions and restructuring are still the main line of the industry du
Chinese brokerage stocks rose in the afternoon. As of press release, CITIC Securities (06030) rose 4.65% to HK$13.06; CICC (03908) rose 4.03% to HK$10.32; China Galaxy (06881) rose 4.02% to HK$4.4; and CITIC Construction Investment Securities (06066) rose 3.83% to HK$6.5.
CICC (03908.HK) plans to hold a briefing on the results and cash dividends for the first quarter of 2023 and 2024 on May 17
Gelonghui, May 9, 丨 CICC Corporation (03908.HK) announced that China International Finance Corporation (hereinafter referred to as the “Company”) has disclosed the “2023 Annual Report” and “First Quarter Report 2024” on the Shanghai Stock Exchange website (). In order to facilitate investors to have a more comprehensive and in-depth understanding of the company's performance and operations in 2023 and the first quarter of 2024, the company plans to hold a briefing session on the results and cash dividends for the first quarter of 2023 and 2024 (hereinafter referred to as the “performance briefing”) to communicate with investors to the extent permitted by information disclosure
The Three-year Loss for China International Capital (HKG:3908) Shareholders Likely Driven by Its Shrinking Earnings
China International Capital Corporation Limited (HKG:3908) shareholders should be happy to see the share price up 13% in the last month. But that cannot eclipse the less-than-impressive returns ove
[Broker Focus] Changjiang Securities maintains CICC's (03908) purchase rating. The capital business was under pressure in the first quarter
Jinwu Financial News | According to the Changjiang Securities Research Report, CICC (03908) released its 2024 quarterly report. During the reporting period, it achieved operating income of 3.87 billion yuan, -37.6% year on year, net profit to mother of 1.24 billion yuan, -45.1% year on year, and a weighted average return on net assets -1.29pct to 1.21% year over year. All of the company's businesses are under pressure. According to the bank, in the long term, the bank will continue to be optimistic that CICC will establish competitive advantages in brokerage, investment banking, asset management and trading with its excellent charging business and balance sheet application capabilities, and through customer demand business and wealth management business
[Broker Focus] Dongwu Securities maintains CICC's (03908) “buy” rating and is optimistic about its competitive barriers in investment banking and wealth management business
Jinwu Financial News | According to Dongwu Securities Research, CICC (03908) achieved total operating income of 3.874 billion yuan (RMB, same below) in 24Q1, or -37.61% year-on-year, and realized net profit of 1,239 billion yuan, or -45.13% year-on-year. According to the bank, 24Q1's self-operated business revenue (investment income - income from investment in joint ventures plus net income from changes in fair value) was RMB 1,853 billion, or -48.8% compared with the same period last year. The decline in proprietary business revenue was the main reason for the decline in the company's performance in the first quarter. We expect the company's equity to be mainly due to large market fluctuations in the first quarter
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