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CITIC SEC: Maintain TENCENT's "Buy" rating. WeChat integrates DeepSeek-R1.
CITIC SEC released a Research Report stating that it maintains a "Buy" rating for TENCENT (00700), being Bullish on the company's potential for sustained profit release. It is reported that on February 15, 2025, WeChat will integrate the AI search feature DeepSeekR1 in a gray test. The firm stated that the leading reasoning capability of DeepSeekR1, combined with WeChat's massive traffic entrance, is expected to support WeChat's evolution into a super AI Agent. In the future, the "AI content" of other TENCENT products will also further increase, releasing performance and valuation space. TENCENT's high gross margin businesses such as gaming, video accounts, WeChat AI search, and WeChat mini-stores are experiencing strong growth.
Citic Securities Downgrades Fortinet to Add From Buy, Adjusts Price Target to $110 From $103
CITIC SEC (06030): CITIC SEC International provides guarantees for the issuance of 0.285 billion USD medium-term notes by CSI MTN Limited.
CITIC SEC (06030) announced that its wholly-owned overseas subsidiary, CITIC SEC International's affiliated company CSI M...
CITIC SEC: Maintaining a "Buy" rating for BYD Electronic, expected to benefit significantly from the deep integration of smart driving in 2025.
CITIC SEC released a research report stating that it maintains a "Buy" rating for BYD Electronics (00285), being bullish on the company's growth potential and the valuation increase brought by new businesses, predicting the company's Net income for 2024-26 to be 4.6/6.4/8.1 billion yuan respectively. The company is a global leader in high-end precision manufacturing, with its core business tied to top global clients. In the area of automotive electronics, the company is a core supplier to its parent company BYD (01211) and is expected to benefit significantly from the projected growth in smart driving by 2025. Additionally, the company is also involved in Thermal Management, suspension, and other products, with market share expected to continue to increase; in terms of AI, the company has a strategic cooperation with NVIDIA.
CITIC SEC: Maintains EB ENVIRONMENT 'Buy' rating with a Target Price of 4.1 HKD.
CITIC SEC released a research report stating that it maintains a "Buy" rating for EB ENVIRONMENT (00257), and has revised down the forecast EPS for 2024-2026 to 0.52/0.61/0.64 HKD (previous forecast was 0.68/0.69/0.71 HKD). The Target Price is set at 4.1 HKD. The company's subsidiary, CEB GREENTECH (01257), which holds 69.70% of the shares, announced that it expects the net income attributable to the parent to decline by 66-69% in 2024, affected by the intense competition in the hazardous waste Industry, and this is expected to drag down the company's performance in 2024. The company’s revenue structure continues to improve.
CITIC SEC: Maintain CEB GREENTECH "Buy" rating Target Price 0.9 Hong Kong dollars.
CITIC SEC released a research report stating to maintain a "Buy" rating for CEB GREENTECH (01257), and adjusted the company's EPS forecast for 2024-2026 to -0.24/-0.05/0.02 HKD (original forecast was -0.11/0.01/0.08 HKD). Based on a PB of 0.18 for 2025, a target price of 0.9 HKD is given to the company. The company announced that it expects the net income attributable to the parent company in 2024 to expand its losses by 66%-69%, influenced by the continued intense competition in the hazardous waste industry. Since 2024, the company's revenue structure has continuously improved, with domestic subsidies recovery significantly outpacing previous years, cash.
