601162 Tianfeng
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Tianfeng News
Tianfeng Securities: Maintaining Samsonite's “Buy” Main Brand and Leading Growth in Asia
According to a research report released by Tianfeng Securities, maintaining Samsonite's (01910) “buy” rating, the company's revenue for 24-26 years is estimated to be US$4.114 billion, US$4.542 billion, and US$5,067 billion, respectively; net profit to mother is US$480 million, US$530 million, and US$596 million, respectively. As a leading enterprise in the global luggage industry, it attracts consumers with its diversified brand portfolio and continues to develop new materials and new designs; Tumi targets the high-end luggage market and continues to grow in revenue; considering the company's 24Q1 net interest rate growth, improved gross margin, increased scale effect, and cost control
Tianfeng Securities: Western Cement's initial “buy” rating target price of HK$1.55
Tianfeng Securities released a research report stating that it covered Western Cement (02233) for the first time and gave it a “buy” rating. The company's net profit for 24-26 is estimated to be 12.07/19.60/2,795 billion yuan, respectively, +186.6%/+62.4%/+42.6% year-on-year, respectively. It is estimated that the company's EPS for 24-26 was 0.22/0.36/0.51, with a target price of HK$1.55. According to the report, the company's overseas business revenue increased year by year. The company's overseas revenue/profit reached 27.7/1,015 billion yuan respectively in '23, +145% /+
Tianfeng Securities: First Prada “Increased Holdings” Rating: Revenue and Net Profit Increased Steady Last Year
According to the research report released by Tianfeng Securities, the first coverage was given to Prada (01913). The estimated revenue for 2024 to 26 will be 5.106 billion, 5.525 billion, and 6.01 billion euros, respectively, with net profit of 736 million, 800 million, and 873 million euros, respectively, and earnings per share of 0.29, 0.31, and 0.34 euros. According to the report, the company is a global leader in the luxury goods industry. The company owns brands such as Prada, MiumiU, Church's, CarShoe, Marchesi1824, and LunaRossa
Tianfeng Securities: Maintaining Ideal Automobile-W “Buy” Rating Target Price of HK$155
Tianfeng Securities released a research report stating that maintaining the Ideal Automobile-W (02015) “buy” rating, the estimated revenue for 24/25 is 1809/25.5 billion yuan, adjusted net profit for 24 years is 15.9 billion yuan, and the target price is HK$155. According to the report, Ideal has faced major fluctuations and adjustments recently. The bank believes that the core reason is that Q1's off-season sales volume and the new pure electric platform Mega fell short of expectations; the bank judged the market or judged the ideal annual sales volume and profit with excessive pessimism, and there was a misjudgment about the deterioration of the competitive pattern (the ideal market share did not decline significantly). The bank determined the ideal market share as 2QL6 climbs
Tianfeng Securities: Optimistic about Haichang Ocean Park's growth space and maintains a buying rating
Recently, Tianfeng Securities released the Haichang Ocean Park (02255.HK) review report. The summary of the research report is as follows: Incident: The company published its annual report for 23 years. Revenue of 1,817 million yuan/yoy +129.1% was achieved in '23, a recovery of 64.8% compared to '19; net profit to mother was 197 million yuan, which was a sharp narrowing compared to the same period in '22; and adjusted EBITDA profit of 459 million yuan, a significant improvement from negative to positive in '22. Various business segments continued to recover. (1) Park operation business: Until the end of '23, the company co-owned
Tianfeng Securities: Initial “buy” rating target price of HK$1.53-2.03 for GCL Technology
According to a research report released by Tianfeng Securities, the first “buy” rating was given to GCL Technology (03800). The estimated revenue for 2024-2026 is 287, 32.4, and 34 billion yuan, respectively, and net profit attributable to mother is 2.5, 3, and 3.8 billion yuan. Considering that the company's subsequent granular silicon market share is expected to continue to increase due to its cost advantage, the target price is HK$1.53-2.03 per share by superimposing perovskite options.
Tianfeng Securities (601162.SH) announced its 2023 annual results, with net profit of 307 million yuan, turning a year-on-year loss into a profit
Tianfeng Securities (601162.SH) announced its 2023 annual results, with operating revenue of 3.427 billion yuan, the same...
Tianfeng Securities: Target price of HK$17.2 for the “buy” rating for China Tobacco Hong Kong
Tianfeng Securities released a research report stating that according to the “buy” rating for China Tobacco Hong Kong (06055), the 2024/25/26 revenue is expected to be HK$136.36/152.77/HK$17.197 billion and net profit of HK$695/7.78/HK$913 million. The company is the exclusive international business platform of the China Tobacco system, with a target price of HK$17.2. The bank believes that the company relies on China Tobacco Group and has significant barriers. It is currently the exclusive international business platform under China Tobacco. It is scarce, and is expected to become a direct beneficiary of the development and transformation of China's tobacco industry. According to the report, China's tobacco production
Tianfeng Securities: Maintaining China's Hongqiao “Buy” Rating, 2023 Results Exceed Expectations
Tianfeng Securities released a research report stating that maintaining China's Hongqiao (01378) “buy” rating, considering that alumina prices have remained high since 24Q1 and the combined decline in coal prices (which are beneficial to the company), the company's net profit returned to mother in 24/25 was raised from 121.2/13.78 billion yuan to 151.62/15.552 billion yuan. The bank said that in '24, the supply and demand situation for electrolytic aluminum is expected to remain relatively good as new domestic incremental measures and inventory policies take effect, compounding supply-side constraints. The main views of Tianfeng Securities are as follows: Revenue will rise steadily in 2023, and profit will increase sharply 202
Tianfeng Securities: Maintaining Alibaba-SW “Buy” Ratings and Repurchase Cainiao Shares to Promote Collaboration
Tianfeng Securities released a research report stating that maintaining the Alibaba-SW (09988) “buy” rating, based on the company's emphasis on continuing to increase investment to enhance competitiveness, the revenue for the 2024-2026 fiscal year is expected to be about 938.2 billion yuan, 1.03 trillion yuan, and 1.13 trillion yuan, respectively, up 8%, 9%, and 10% from the previous year; during the period, net profit was 159.4 billion yuan, 168.3 billion yuan, and 179.5 billion yuan respectively, up 13%, 6%, and 7% year on year. According to the report, the company recently withdrew Cainiao's IPO application and plans to acquire Cainiao employees and minority shareholders' shares for 3.75 billion yuan
Tianfeng Securities: Maintaining China Liansu's “Buy” Rating and Optimizing the Prospects for Overseas Business Expansion
Tianfeng Securities released a research report stating that it maintains the “buy” rating of China Liansu (02128) and adjusted the company's net profit from 30.95/3.49 billion to 26.2.94 billion yuan in 24-25 years. The estimated net profit to mother for 26 years was 3.36 billion yuan, with a target price of HK$4.62 billion. The company achieved revenue of 30.888 billion yuan for the full year of '23, +0.3% year-on-year; net profit to mother was 2,368 billion yuan, -6.1% year-on-year. The decline in profit was mainly due to the increase in interest expenses and financial expenses due to impairment of customer accounts receivable and rising interest rates on loans in '23
Tianfeng Securities: Maintaining China Resources Gas's “buy” surplus price rating policy will have a positive impact on gross sales margins
Tianfeng Securities released a research report stating that maintaining the “buy” rating of China Resources Gas (01193), the net profit returned to mother is estimated to be HK$57.3, 63.7, and 7.15 billion HK$7.15 billion respectively, up 9.7%, 11.2% and 12.2% year-on-year. The market will gradually return to normal in 2024, and the gradual recovery of downstream natural gas demand. Continued promotion of the favorable price policy will have a positive impact on the company's gross sales margin, but the market is still in a fragile balance and faces many uncertainties. According to the report, China Resources Gas continues to explore market space and expand the scale of operations. 2023 Group-level updates
Tianfeng Securities: Maintaining Meitu's “Buy” Rating Target Price of HK$6.82
Tianfeng Securities released a research report stating that maintaining Meitu's (01357) “buy” rating, the estimated revenue for 24/25/26 is 35.25/41.75/4.915 billion yuan, with a target price of HK$6.82. The bank continues to be optimistic that 2024 will be a big year combining AI and tool software. As a leading product on the market segment, subscription member penetration rate and member conversion rate are expected to continue to increase. In this round of generative AI and tool software global opportunities, Meitu may be expected to summarize past lightweight tool software experience and pass it on to the B-side market to establish the experiential advantage of lightweight tool software.
Tianfeng Securities: Special Step International maintains a “buy” rating with the same increase in revenue and profit in 2023
According to a research report released by Tianfeng Securities, maintaining the “buy” rating of Special Step International (01368), the estimated revenue for 24-26 will be 160/179/19.8 billion, respectively, and net profit of 11.7/13.4/1.51 billion. The company successfully occupied the minds of users through specialized brand upgrades; at the same time, as the product matrix matured one after another, the operating performance of the new brand continued to be optimized to jointly drive the group's growth. According to the report, the company's revenue of 14.3 billion yuan increased 11% in 23 years, and net profit of 1 billion yuan increased 12%; by the end of 23, the company's inventory was 1.79 billion yuan, a decrease of 21.6%; 2
Tianfeng Securities: Hong Kong stocks need to wait for more positive signals, and suggestions still focus on high dividend strategies
Tianfeng Securities released a research report saying that in the Hong Kong stock market, in a context where economic data continues to be verified and the pressure to depreciate the Hong Kong dollar has not been relieved, the recommendations are still mainly high dividend strategies. Sectors such as utilities, energy, finance, and telecommunications, which have high dividend rates in the short term, can provide considerable relative returns in this environment even if market volatility increases in the future; in the medium to long term, the technology industry represented by semiconductors and the Internet will still be the main gripper for industrial transformation and is expected to benefit from government support and domestic substitution. Hong Kong stock market: waiting for more positive signals 1) The Hang Seng Index fluctuates and weakens, and major broad-based indices are common
Tianfeng Securities: Maintaining the chalk “buy” rating and is expected to increase in 2023
Tianfeng Securities released a research report saying that maintaining the “buy” rating of chalk (02469), the annual revenue for 23 was not less than 3 billion yuan, and adjusted net profit of 420 million yuan, an increase of 119 percent over the previous year. Chalk's competitiveness lies in its strong online traffic entry card and outstanding reputation for running schools. The offline layout in the past two years has fully enhanced its performance; profitability has shown a trend of further release, and various business segments have been growing steadily. In the future, we will continue to improve the teaching staff, improve the curriculum content and teaching system, and actively seize structural opportunities by increasing investment in R&D, expand our technological leadership, and continuously enhance our ability to grow. Should
Top 20 US stock turnover on February 27: Apple abandons electric vehicle plan
Nvidia, the number one in US stock turnover, closed down 0.49% and traded US$30.658 billion on Tuesday. Nvidia's “special edition” AI chip H20 for China will be fully pre-ordered after this year's GTC 2024 conference (March 18 to March 21), and can be delivered as soon as four weeks. In response to the sale of Nvidia, famous investor Kathy Wood said, “Our ARK Fund bought Nvidia for about $5 in 2014, and we are continuing to cash out profits after an increase of more than 150 times.” The second-place Tesla closed 0.17% higher, with a transaction of US$21.808 billion. All-electric Tesla Model
Tianfeng Securities: Maintaining Haidilao's “Buy” Rating and Looking forward to opening and restarting stores under steady recovery
Tianfeng Securities released a research report stating that it is concerned about Haidilao (06862)'s possible reopening after the turnover rate has improved, and the resulting valuation boost, and maintained a “buy” rating. The bank mentioned that the company's revenue from continuing operations for 23 years is expected to be no less than RMB 41.4 billion yuan/yoy +33%, and net profit from continuing operations will not be less than RMB 4.4 billion yuan/yoy +169%, achieving a net interest rate of 10.6%, exceeding the level of the full year of '19 (10.3%). The increase in revenue and performance was mainly due to the optimization of epidemic prevention policies and economic recovery. Haidilao restaurant traffic increased, business performance improved, and Haidilao
Tianfeng Securities: Target price of HK$8 for the “buy” rating for Easy Dianyun
According to the research report released by Tianfeng Securities, the “buy” rating for FY2023-FY2025 predicts that the total revenue of FY2023-FY2025 companies will be $12.73/1456/1,677 billion, respectively, adjusted net profit of RMB0.16/0.88/ $102 million, with a target price of HK$8. The bank believes that China's office IT usage payment market has broad prospects, and the advantages of comprehensive office IT solutions are obvious. Easypoint Cloud is a leading enterprise in the industry, and its technological scale advantage is constantly increasing. As subscription fees for mainstream devices drop further, the company's number of active customers and service devices
Tianfeng Securities: The global market share of the “Buy” rating of First Order Pharmacopoeia is expected to continue to increase
Tianfeng Securities released a research report saying that for the first time, it covered Pharmaceutical Federation (02268), gave it a “buy” rating, and is optimistic about long-term rapid growth in performance. Furthermore, the company's revenue from 2023 to 2025 is estimated to be RMB 2,029/32.5/RMB 4.902 billion (same below), and net profit of RMB 2.83/5.69/959 million yuan respectively. It is expected that it is in a phase of rapid growth. The bank pointed out that Pharmaceutical Federation is a leading global bioconjugated drug CRDMO service company, focusing on the discovery and engineering of bioconjugated drugs such as ADC, mAb intermediates, connectors and payloads
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