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Everbright (06178.HK): The non-public issuance of CSI Enterprise bond Index has received an unobjectionable letter for listing transfer from the Shanghai Stock Exchange.
On January 24, Glonghui reported that Everbright (06178.HK) issued an announcement that the company recently received a letter from the Shanghai Stock Exchange titled 'No Objection to the Non-public Offering of the Corporate Bonds of Everbright Securities Co., Ltd. Listed Transfer' (Zhengjian Han [2025] No. 187, hereinafter referred to as the No Objection Letter). According to the No Objection Letter, the company’s non-public offering of corporate bonds, totaling no more than 10 billion yuan, meets the transfer listing conditions of the Shanghai Stock Exchange, and the exchange has no objection to the bond listing transfer. This No Objection Letter is valid for 12 months from the date of issuance, and the company can proceed within the validity period of the No Objection Letter and the aforementioned limit.
Everbright (601788.SH): The letter of no objection for the privately issued CSI Enterprise bond Index was obtained for listing and transfer at the Shanghai Exchange.
On January 24, Gelonghui reported that Everbright (601788.SH) announced that it has recently received a letter from the Shanghai Stock Exchange (hereinafter referred to as the Exchange) titled "Regarding No Objection to the Non-Public Issuance of CSI Enterprise Bonds by Everbright Securities Co., Ltd. for Transfer Listing" (Shanghai Stock Exchange Letter [2025] No. 187, hereinafter referred to as the No Objection Letter). According to this No Objection Letter, the company’s non-public issuance of up to 10 billion yuan in bonds aimed at professional investors meets the listing transfer conditions of the Exchange, and the Exchange has no objection to this bond listing transfer. This No Objection Letter is valid for 12 months from the date of issuance, and the company can proceed without objection.
Everbright: Maintains NEW ORIENTAL-S "Buy" rating, Bullish on the Industry's prosperity and the company's competitive advantage.
Everbright released a research report stating that it maintains a "Buy" rating on NEW ORIENTAL-S (09901). Considering the impact of the macro environment, the company's high-end one-on-one overseas business is under pressure, and it is still difficult to determine the timing of a turning point. To be conservative, the forecast for the company's net income attributable to the parent for the fiscal years 2025-2027 has been lowered to 0.413/0.555/0.712 billion USD (a reduction of 13%/12%/11% respectively), corresponding to EPS of 0.25/0.34/0.44 USD for the fiscal years 2025-2027, respectively. Currently, the company’s capacity expansion and operations are stable, and the profit margin of its core education business continues to improve.
Everbright: The price of alumina may show a turning point, the aluminum electrolysis economy bottom is lifting, it is recommended to pay attention to CHINAHONGQIAO and others.
Everbright released a research report stating that the dependence on domestic bauxite continues to rise, and the strategic attribute of bauxite is gradually becoming evident. If the new domestic alumina capacity and the incremental overseas bauxite imports can gradually be realized by 2025, it may alleviate the domestic bauxite tightness and the High Stock Price of alumina, with some profits from alumina shifting to electrolytic Aluminum. It is recommended to pay attention to Yunnan Aluminium (000807.SZ), Henan Shenhuo Coal & Power (000933.SZ), and Henan Zhongfu Industrial (600595.SH), which have a low domestic alumina self-sufficiency rate and a hydroelectric aluminum layout; Aluminum Corporation Of China (02600, 601600) has a relatively low Market Cap per ton of Aluminum.
Everbright Securities Company Limited's (SHSE:601788) P/E Still Appears To Be Reasonable
Everbright: Maintain the Buy rating for TENCENT with a Target Price of HKD 430.
Everbright released a Research Report stating that it maintains a "Buy" rating for TENCENT (00700), with a Target Price of 430 Hong Kong dollars. Considerations: 1) WeChat Mini Stores activate the value of traffic across the board. In combination with the shopping and social demands brought by upcoming holidays such as the Spring Festival, an expectation for further improvement in GMV levels. 2) WeChat has been removed from the list, coupled with TENCENT repurchasing 1.5 billion Hong Kong dollars daily since January 8, 2025, which is expected to provide long-term support for the stock price. Maintaining the forecast for the company's Non-IFRS Net income attributed to shareholders from 2024 to 2026 at 2,255.8/2,543.9/2,761.6 billion yuan. Event: January.