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Citi reiterated its "buy" rating on Hong Kong Light - SS (02638) with a target price of HKD 6.15.
Citigroup believes that the expected US interest rate cut will bring a reappraisal of the value of Hong Kong's stock market.
Hong Kong stock market changes | Hong Kong Electric-SS(02638) fell nearly 3%, and the mid-term shareholders' share of net profit decreased year-on-year. Citigroup expects the company's future asset foundation to increase.
Hong Kong Lighting - SS (02638) has dropped nearly 3%. At the time of publication, it has fallen 2.83%, to HKD 5.35, with a turnover of 24.284 million HKD.
The interim dividend of Hong Kong Lighting (02638) is 15.94 Hong Kong cents per share/order unit, flat compared to the same period last year.
According to the announcement by HK Electric Investments Limited (02638) on the stock exchange, for the six months ended June 30th, 2024, the net comprehensive income attributable to shareholders and order holders is HKD 0.947 billion, representing a 3.56% YoY decrease. Basic earnings per share is HKD 10.72 cents. The distributable income for the period is HKD 1.408 billion, with an interim dividend of 15.94 cents per share and order. The income for the period is HKD 5.572 billion, representing a YoY growth of 6.56%.
Express News | Refile- HK Electric Investments - Hy Revenue HK$5,572 Mln Vs HK$5,229 Mln (Removes Extraneous Word 'mln')
Hong Kong Lighting-SS (02638) has released its interim results. The holder of share combined orders should hold a surplus profit of 0.947 billion Hong Kong dollars, a decrease of 3.56% year-on-year.
Hong Kong Lighting - SS (02638) released its interim performance for the six months ending on June 30, 2024, during which the group achieved...
Express News | HK Electric Investments - Hy Revenue HK$5,572 Mln Mln Vs HK$5,229 Mln
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