New World Development Ejected From Hang Seng Index; Kuaishou, New Oriental Admitted to Index

MT Newswires05:23 ET

[Brokerage Focus] Credit Suisse maintains a "buy" rating on Kuaishou (01024), stating that the company also has room for improvement in its medium to long-term profit margins.

King's Financial News | Pu Yin International issued a research report, stating that Kuaishou (01024) had a third-quarter 2024 revenue of RMB 31.1 billion, a year-on-year increase of 11.4%; adjusted net income was RMB 3.95 billion, a year-on-year increase of 24%, overall performance basically in line with market expectations. The bank stated that other income in the third quarter of 2024 was RMB 4.2 billion, a year-on-year increase of 17.5%; e-commerce GMV was RMB 334.2 billion, a year-on-year increase of 15.1%, with growth rate remaining stable, mainly due to a 12.2% year-on-year increase in active buyers to 0.133 billion, while average order value and purchase frequency remained stable. The average monthly active merchant count increased by 40% year-on-year.

Jinwu Financial News02:35 ET

Individual stock midday review: Included in the Hang Seng Index rose more than 3%, Kuaishou's performance resulted in a total repurchase of nearly 0.3 billion Hong Kong dollars.

JRJ Finance23:10 ET

Everbright: Maintains "buy" rating for Kuaishou-W with a target price of HKD 60.3.

Everbright Securities released a research report stating that it maintains a "buy" rating for Kuaishou-W (01024). Considering the profit in Q3 2024 exceeded expectations, the adjusted net income forecast for 2024 is slightly raised to 17.6 billion yuan (an increase of 1.9% compared to the last forecast). The company's ecosystem remains healthy, with overseas and local lifestyle businesses having growth potential, and the target price remains at 60.3 Hong Kong dollars. Kuaishou Technology achieved total revenue of 31.1 billion yuan in Q3 2024, a year-on-year increase of 11.4% (vs consensus expectation of +11.1% year-on-year); the adjusted net income was 3.95 billion yuan, slightly exceeding expectations (vs consensus expectation of 3.9 billion).

Sina Hong Kong stocks21:34 ET

Hong Kong stocks abnormal movement | Kuaishou-W (01024) rose more than 5% intraday, will be included in the Hang Seng Index constituent stocks at the beginning of next month. The company's DAU growth exceeded expectations.

Kuaishou-W (01024) rose more than 5%, as of the deadline, up 5.07%, trading at 46.6 Hong Kong dollars, with a turnover of 0.742 billion Hong Kong dollars.

Zhitong Finance21:21 ET

Everbright: Maintain "buy" rating for Kuaishou-W (01024) with a target price of 60.3 HKD.

Everbright has revised its forecast for Kuaishou's adjusted net income in 2024 to 17.6 billion yuan.

Zhitong Finance20:53 ET