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Jefferies Adjusts Uni-President China Holdings' Price Target to HK$8.70 From HK$8.20, Keeps at Buy
Hong Kong stocks closed on August 8, with the Hang Seng Index slightly up by 0.08%. Mainland real estate showed active performance, while shipping and autos remained under pressure for the whole day.
The Hong Kong stock market opened lower but rose afterwards, with the Hang Seng Index and the Heng Seng Science and Technology Index rising by 1% at one point; the index narrowed in the afternoon, and the Heng Seng Science and Technology Index turned downward again.
Brokerage Focus: Swhy Maintains 'Shareholding' Rating for U-Presid China (00220) and Points to Significant Improvement Space in Profitability.
Shenwanhongyuan issued a research report stating that U-Presid China (00220) released its mid-term performance report for 2024, achieving revenue of 15.449 billion, a YoY increase of 6%, and achieving net income attributable to mother of 0.966 billion, a YoY increase of 10.2%. The revenue performance meets market expectations, and the profit performance exceeds expectations. The bank continued to point out that in the food business, instant noodles achieved revenue of 4.858 billion, a YoY increase of 1.9%. The bank expects the main increment to come from the Laotan-Sour Cabbage and Qiehuang series, while the Tangdaren series still faces pressure. In the beverage business, tea drinks/milk tea/fruit juice/other drinks achieved revenue of 4.
Yuanta Securities Downgrades Uni-President China Holdings to Sell From Hold; Price Target Is HK$6
Citigroup rates u-presid china target price at HKD 8.57 and recommends a "buy" rating.
Citigroup prefers U-Presid China (00220) over Tingyi Holdings (00322).
CICC: Maintains the 'outperform' rating on U-Presid China with a target price of HKD 8.6.
CICC released a research report stating that it maintains a 'outperform the industry' rating for U-presid China (00220) with a target price of HKD 8.6. The company announced its 1H24 results: revenue of CNY 15.4 billion, +6.0% year-on-year, attributable net income of CNY 0.966 billion for the parent company, +10.2% year-on-year, non-recurring net profit of CNY 0.966 billion, +56% year-on-year (last year's same period had a one-time tax-exempt income of CNY 0.256 billion). Among them, 2Q24 attributable net profit was CNY 0.51 billion, +31% year-on-year, and non-recurring net profit was CNY 0.51 billion, +31% year-on-year. The performance met the bank's expectations, slightly exceeding market expectations, mainly due to the continued improvement of 2Q gross margin.
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II Wilson : Nice!