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DBS: Maintain CG SERVICES (06098) "Hold" rating, Target Price raised to 7 HKD.
The bank has raised the profit forecast for CG SERVICES for the next two years by 10% to reflect the adjusted revenue and gross profit forecasts.
CG SERVICES has awaited the dawn.
The total dividend for the year 2024 is 0.99 billion yuan.
[Brokerage Focus] Sinolink maintains a "Shareholding" rating on CG SERVICES (06098), noting that the core Business resilience is evident, but risks still need time to digest.
Jinwu Financial News | Sinolink Securities released a Research Report indicating that CG SERVICES' 2024 performance presents characteristics of "increased revenue without increased profit"; the core Business resilience is prominent, but risks still need time to digest. The company achieved annual revenue of 43.993 billion yuan, a year-on-year increase of 3.2%; the Net income attributable to the parent company was 1.808 billion yuan, a year-on-year surge of 518.7%, mainly due to a year-on-year decrease in asset impairment of 2.42 billion yuan; the core Net income attributable to the parent company was 3.038 billion yuan, a year-on-year decrease of 22.9%, affected by non-operational and objective factors. The reduction in impairment drove significant profit growth, with the core Business proportion increasing.
Hong Kong stock movements | CG SERVICES (06098) rose over 5%, with annual net profit increasing nearly 5.2 times year-on-year. Institutions indicate that the company's risks are gradually being cleared.
CG SERVICES (06098) rose over 5%, as of the time of writing, it increased by 5.42%, priced at 6.81 HKD, with a trading volume of 0.152 billion HKD.
Some domestic Real Estate and property management stocks are rising, CHINA JINMAO (00817) increased by 5.13%. Institutions indicate that the current main tone of the Real Estate sector is "halt the decline and stabilize" remains unchanged.
Jinwu Financial News | Some domestic real estate and property management stocks have risen, with CHINA JINMAO (00817) up 5.13%, MIDEA REAL EST (03990) up 1.82%, COUNTRY GARDEN (02007) up 1.08%, TIMES NEIGHBOR (09928) up 6.17%, and CG SERVICES (06098) up 4.64%. A report from BOC International indicates that the current main tone of the Real Estate sector is 'ceasing to decline and stabilizing', with boosting demand as the primary task. From high-frequency data, the market currently maintains a slow recovery momentum. Whether the subsequent market recovery can be solidified depends on further expansion of loosening policies on the demand side.
Announcement Highlights | "Flash" placement! NIO plans to issue no more than 0.119 billion shares; Semiconductor Manufacturing International Corporation's revenue is expected to grow nearly 28% year-on-year in 2024.
CNOOC's net profit in 2024 exceeds 130 billion yuan; New China Life Insurance's annual profit increased approximately twofold year-on-year.
