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China Renaissance Starts Dong-E-E-Jiao at Buy With 83.78 Yuan Price Target
Dong-E-E-Jiao Co.,Ltd.'s (SZSE:000423) Last Week's 4.3% Decline Must Have Disappointed Retail Investors Who Have a Significant Stake
CICC: Maintains an outperform rating on Chinares Pharma with a target price of HKD 7.3.
CICC released a research report stating that Chinares Pharma (03320) was maintaining its rating of "outperform the industry," with EPS forecasts of $0.69/$0.77 for 2024/2025 remaining unchanged, corresponding to a year-on-year increase of 12.0%/12.2%, with a target price of HK$7.3. On July 17th, the company announced that its subsidiary, China Resources Boya Bio-Pharmaceutical Group, intends to acquire 100% equity of Lvxing Hong Kong Holdings for 1.82 billion yuan. On July 11th, Dong-E-E-Jiao, a subsidiary of the company, released its performance forecast for the first half of 2024, with preliminary estimates of net income attributable to shareholders at 0.695-0.76 billion yuan, a year-on-year increase of 31-43%. CICC's main points of view are as follows:
Dong-E-E-Jiao Forecasts Up to 43% Rise in H1 Profit
Chinare Pharma (03320.HK): Dong-E-E-Jiao's net income for the first half of the year is expected to increase by 31% to 43% year-on-year.
On July 12th, Guolonghui reported that Chinares Pharma (03320.HK) released an announcement that on July 11, 2024, Dong-E-E-Jiao (000423.SZ) announced its performance forecast for the half year ended June 30, 2024. Accordingly, its net income attributed to Dong-E-E-Jiao's shareholders for the six months ended June 30, 2024 is expected to be approximately RMB 695 million to RMB 760 million, an increase of about 31% to 43% compared to the same period last year of about RMB 531.1136 million after deducting non-recurring gains and losses, and the net income is expected to be approximately RMB 658 million.
Dong-E-E-Jiao: 2024 Interim Performance Forecast
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