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GTJA: Maintains a 'shareholding' rating on CNBM, with the target price lowered to 3.23 Hong Kong dollars.
gtja released a research report stating that it maintained a "shareholding" rating for cnbm (03323), considering the long and large extent of cement losses, and some profit pressures still exist in the materials sector, lowering the net income forecast for 2024-2026 to 1.175, 2.276, 2.987 billion yuan (-2.803, -2.376, -2.055 billion yuan), and lowering the target price to 3.23 Hong Kong dollars. The company achieved revenue of 83.471 billion yuan in the 2024 interim report, a year-on-year decrease of 18.5%, and a net loss of 2.018 billion yuan attributable to the parent company, turning into a loss year-on-year, lower than expected. During the period, in the basic building materials sector, the cement sector
[Brokerage Focus] UBS expects interest rate cuts to help inflow of risk assets into Hong Kong, and recommends adding CKH Holdings (00001) and BOC Aviation (02588) to the recommended list.
The UBS Group stated in a report that the Federal Reserve recently announced a half-point interest rate cut, and the Hong Kong Monetary Authority also followed suit. HSBC Bank also reduced its preferential interest rates by 25 basis points, which means lower mortgage rates. It is believed that this will inject a strong stimulus for property buyers in the real estate market and is expected to attract capital inflows into Hong Kong's risk assets. However, there is a possibility that different re-ratings may occur due to suppressed dividends. The bank prefers high-yield stocks, companies that are sensitive to interest rates, and companies that have resilience in the face of macroeconomic weakness. The bank has removed CKH Holdings (01038) and CLP (00002) from its list of recommended stocks in the Hong Kong market, and has added
Soochow Securities: Hong Kong stock market entering an upward cycle may lead A shares to a turning point.
Soochow Securities has released research reports stating that the Hong Kong stock market index has bottomed out, which may have leading and guiding significance for A-shares.
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