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Orient Securities maintains a buy rating on Tencent Music-SW with a target price of HKD 53.17.
Orient released a research report stating that tencent music - SW (01698) keeps a "buy" rating, as online music revenue accounts for an increasing proportion of the company's overall structure, and profit margin is expected to continue to improve. It is expected that the net income attributable to the mother from 2024 to 2026 will be 6.7/8.2/10.2 billion yuan (the original forecast for 2024-2026 was 6.6/8/9.4 billion yuan, due to the adjustment of member ARPPU, gross margin, and rate reduction). The target price is HKD 53.17. Orient's main points are as follows: the company's revenue in Q2 2024 was 7.16 billion yuan (YoY -1.7%, QoQ +5.8%).
CNBM has completed the issuance of 1.5 billion yuan in enterprise bonds.
CNBM (03323) announced that the public offering of technology innovation bonds (third tranche) of China National Building Materials Co., Ltd. for professional investors in 2024 was completed on August 14th, 2024. The actual issuance amount of this bond is 1.5 billion yuan, with a subscription multiple of 4.41 times, and the final coupon rate is 2.05%. The underwriting institutions for this bond are Citic Securities Co., Ltd., GTJA Securities Co., Ltd., CITIC Securities International Co.,Ltd., Orient Securities Co., Ltd. and their related parties, subscribing to this bond with a total of 1.26 billion yuan.
China-affiliated brokerage is strong. Holly Futures (03678) rose 43.7%. Institutions point out that the negative impact of regulation and policies has already been reflected in the current undervaluation.
Jinwu Financial News | China-affiliated brokerage stocks rallied strongly, with Holly Futures (03678) up 43.7%, Guolian Securities (01456) up 6.43%, China International Capital Corporation (03908) up 5.99%, China Galaxy (06881) up 6.22%, CITIC Securities (06030) up 5.84%, and Orient (03958) up 5.18%. Sinolink Securities said that the follow-up catalyst for the brokerage sector's market may mainly come from liquidity improvement, high investment elasticity, marginal policy relaxation, and M&A expectations.① Expectations for the Fed rate cut have increased significantly and are expected to continue to release domestic room for reserve requirement and interest rate cuts from the
Investors in Orient Securities (SHSE:600958) Have Unfortunately Lost 26% Over the Last Three Years
Hong Kong stock announcement Trenching | Orient Securities' net income attributable to the parent in the first half of the year increased by 11.05% year-on-year to 2.111 billion yuan. Kingsway expected net loss to narrow in the first half of the year.
UBTECH (09880) is expected to have a revenue of approximately 0.45-0.5 billion yuan in the first half of the year, with a year-on-year growth of about 72%-91%.
Orient Securities Co., Ltd. 2024 interim performance report announcement.
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