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Gelonghui Announcement Highlights (Hong Kong Stocks)︱Kanzhun-W (02076.HK) reported a 26.5% increase in operating profit for the third quarter and a 30.0% increase in monthly active users.
[Today's Focus] Kanzhun-W (02076.HK) reported a 26.5% increase in operating profit for the third quarter and a 30.0% rise in monthly active users. Kanzhun-W (02076.HK) announced that in the third quarter of 2024, the company’s revenue was 1,911.6 million yuan, a 19.0% increase compared to 1,606.6 million yuan in the same quarter of 2023. The operating profit for the third quarter was 330.2 million yuan, which is a 26.5% increase from 261 million yuan in the same quarter of 2023. As of September 30, 2024,
SJM HOLDINGS (00880.HK) plans to acquire property in the Hengqin New District of Zhuhai for 0.546 billion yuan.
Gelonghui announced on December 11 that SJM HOLDINGS (00880.HK) entered into a non-binding memorandum of cooperation on December 11, 2024, under which potential sellers (a wholly-owned subsidiary of Shun Tak) plan to sell, and potential buyers SJM Investments intend to acquire the property without any encumbrance on the title, for a price of 0.546 billion RMB (approximately 0.584 billion HKD, excluding taxes). The property includes nine (9) floors of partitioned office units within an office building and a retail unit, located at No. 28, Xinde Street, Hengqin New District, Zhuhai, currently known as the Xinde Port Business Center.
J.P. Morgan: Macau's gambling revenue for the first eight days of December has slowed down as expected, with GALAXY ENT being the top choice for next year.
JPMorgan released a research report stating that the top choice among Macau Casino stocks for next year is GALAXY ENT (00027), with a "Shareholding" rating and a Target Price of HKD 48, reflecting its unique profit drivers and a low enterprise value multiple (EV/EBITDA) of 9 times. After that, WYNN MACAU (01128), SANDS CHINA (01928), and MGM CHINA (02282) are also expected to perform well (these three companies share the same ranking), followed by SJM HOLDINGS (00880), and lastly, MELCO INT'L DEV (00200). The report mentioned that the gross gaming revenue for Macau for the first eight days of December was 4.5 billion Macau patacas (down...
[Brokerage Focus] JPMorgan expects Q4 Macau Gambling revenue to increase by 3% to 4% quarter-on-quarter, with GALAXY ENT (00027) as the top pick.
Jinwu Financial News | JPMorgan released a research report indicating that the gross gaming revenue in Macau for the first eight days of December was 4.5 billion (Macau Pataca, the same below), which corresponds to a daily average of 0.562 billion Patacas, a 9% decrease compared to the average daily gaming revenue in November, but within expectations. During this period, the gross gaming revenue from the mass market business was about 105% of the pre-pandemic level, while VIP rooms recovered to about 20% to 23%. Although growth in gaming revenue is expected to slow in December, a quarterly increase of 3% to 4% is still anticipated for the fourth quarter, reaching the highest level in 20 quarters, and this growth momentum is believed to support the industry in meeting the general expectations for the fourth quarter and this fiscal year.
J.P. Morgan: Macau's Gambling revenue for the first eight days of December is expected to slow down month-on-month. The preferred choice for next year is GALAXY ENT (00027).
Morgan Stanley's order of stock selection for Macau Casino next year is GALAXY ENT (00027), WYNN MACAU (01128), SANDS CHINA (01928), and MGM CHINA (02282) (three companies ranked equally), followed by SJM HOLDINGS (00880) and MELCO INT'L DEV (00200).
Lyon: Minor decline in next year's Macau gaming industry revenue and EBITDA forecast, with first choice being Sands China and galaxy ent.
Lyon released a research report stating that considering the signs of slowing internal growth in Macau's daily gambling revenue this year, the annual forecast for Macau's gambling revenue for the next two years will be reduced by 1%. It is predicted that the gambling revenue in 2025 will increase by 4% to 235.8 billion Macau yuan, and the growth rate in 2026 is expected to rise to 10.4%, reaching 260.2 billion Macau yuan. The bank indicated that adjusted EBITDA forecasts for the Macau gambling industry in 2025 and 2026 were reduced by 2.5% and 4% respectively, to an increase 8% and 10.2%. The bank maintains its investment rating for the 7 gambling operators unchanged, with Sands China (019) being the top choice for next year.
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