Hengan International (01044) fell more than 6% and, as of publication, fell 6.07% to HKD 24 with a turnover of HKD 22.8258 million.
According to the WiseNews app, Hengan International (01044) fell more than 6%. As of publication, it had fallen by 6.07% to HKD 24 with a turnover of HKD 22.8258 million.
On the news front, Hengan International released its mid-term performance for 2024, with revenues of RMB 11.836 billion, a 3% decrease YoY, net profit attributable to equity holders of RMB 1.409 billion, a 14.9% YoY increase, earnings per share of RMB 1.234, and a proposed mid-term dividend of RMB 0.7 per share.
Citigroup research reports claimed that Hengan's mid-term performance was worse than expected and lowered its target price slightly to HKD 25. UBS Group stated that the progress of Hengan's sales growth and profit margin recovery in the first half of the year was worse than expected, downgrading its target price to HKD 32.2. Meanwhile, Daiwa downgraded its rating to 'Hold' and lowered its target price to HKD 25.