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BOC International: Maintaining the “Neutral” Rating of the Transfer Card (09923) and reducing the target price by 12.5% to HK$14
BOC International expects the revenue of card transfers (09923) to increase 23% to 4.3 billion yuan in 2024.
[Broker Focus] BOC International Savings Card (09923) target price of 12.5% indicates that expenses related to expansion may be higher than previously anticipated
Jinwu Financial News | According to BOC International Development Research Report, the 2023 results of Transfer Card (09923) are in line with expectations. Revenue in 2023 was RMB 4 billion (same below), an increase of 16% over the previous year. Adjusted EBITDA increased 161% year-on-year to $560 million, mainly benefiting from the expansion of payment business profits and the narrowing of in-store losses. Looking ahead, the short-term payment business will continue to be the main driver of growth. The bank expects payment GPV/revenue to increase by 9%/23% to 3.1 trillion yuan/4.3 billion yuan in 2024, excluding the impact of non-recurring revenue adjustments, and the payment rate will increase by 0.6 basis points. Arrived at the store or in 2024
Changes in Hong Kong stocks | Mobile Card (09923) fell nearly 5% to the store, putting pressure on e-commerce business, last year's net profit fell by more than 90% year on year
The Zhitong Finance App learned that the card transfer (09923) fell by nearly 5%. As of press release, it fell 4.77% to HK$11.98, with a turnover of HK$4.865,500. According to the news, Mobile Card announced its 2023 annual results, with revenue of 3,951 billion yuan (RMB, same below), up 15.6% year on year; profit attributable to the company's equity holders was 11.627 million yuan, a decrease of 92.45% year on year; and gross profit of 738 million yuan, down 28.4% year on year. This is also the first time since the company went public that gross profit declined. In addition, the company's in-store e-commerce service revenue during the reporting period was 103 million yuan, down from the previous year
Press Release: Yeahka Announces 2023 Annual Results
Yeahka Announces 2023 Annual Results PR Newswire HONG KONG, March 21, 2024 Brilliant growth momentum in one-stop payment services, GPV increased by 29.2% YoY, Adjusted EBITDA significantly improve
The card transfer cross-border payment business has made major breakthroughs and obtained MSO and MPI licenses in Hong Kong and Singapore
As a new market for moving cards, the overseas business has become a new business growth highlight.
YEAHKA: ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2023
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