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[Brokerage Focus] Zhongtai Securities maintains a "buy" rating on chinacomservice (00552), pointing to its potential to fully benefit from the construction of the algorithmic network infrastructure.
King W Financial News | Zhongtai Securities issued a research report stating that China Communication Services (00552) released its mid-year performance for 2024, achieving revenue of 74.412 billion yuan, a year-on-year increase of 1.70%; achieving a net income attributable to equity holders of 2.125 billion yuan, a year-on-year increase of 4.47%. The bank continued to point out that in terms of market segmentation, the operator market achieved revenue of 40.024 billion yuan, a year-on-year increase of 0.12%; overall maintaining basic stability. The company focuses on new demands in AI algorithm construction and industrial digitalization transformation, fully leveraging the advantage of the company's integrated service capabilities. In the first half of the year, the operator market signed new contracts exceeding 58 billion yuan, a year-on-year.
Everbright Securities: Maintains a "shareholding" rating for China Communication Services (00552), with significant improvement in newly signed contracts for strategic emerging businesses.
Everbright Securities lowered its forecast for Chinacomservice's net income attributable to shareholders by 14% to 3.769 billion RMB and by 18% to 3.978 billion RMB for 2024-2025.
Jefferies Adjusts China Communications Services' Price Target to HK$6.53 From HK$6.33, Keeps at Buy
UBS Group: Maintains a "buy" rating on chinacomservice, with a target price of HK$5.
UBS Group released a research report stating that it maintains a "buy" rating on chinacomservice (00552), and expects to see sustained improvement in the company's gross margin. The profit forecast for 2024 to 2026 remains unchanged, and the lower-than-expected revenue growth pace will be offset by higher gross margin and lower-than-expected marketing expenses. The target price has been raised from HK$4.8 to HK$5. In the first half of the year, the company's revenue increased by 1.7% year-on-year, which is lower than the bank's forecasted growth rate of 4% to 5% for the full year. However, the gross margin and net profit increased by 3.6% and 4.4% respectively, which roughly meet expectations.
China Communications Services Seeks Shareholder Go-Ahead for Auditor Appointment
chinacomservice announces 2024 mid-term performance
Key points: Effectively respond to environmental changes, maintain stable and rising operational performance, implement measures to improve quality and efficiency, continue the upward trend of gross profit margin, significant results in global strategic layout, new business leads growth. Leading with technology innovation to enhance core competitiveness. Adhere to high-quality development strategy to strengthen core competitive advantages. Financial Summary (Unaudited) As of the six months ended June 30, 2023 2024 Change Operating income (in hundred million RMB) 73,170 74,412 +1.7%
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