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Credit Rating Update | BOC International: Lower ChinaSoft Int'l's target price to HKD 5.3 and maintain a 'buy' rating.
ChinaSoft Int'l's first-half performance was worse than expected with revenue and net income down 6% and 19% respectively from the previous year, according to a report released by BOC International. The management expects the delay in state-owned enterprise projects to be temporary since many domestic alternative projects must be completed by 2027. Meanwhile, Huawei HongMeng OS, Ascend AI, and other customer groups are expected to bring good growth momentum for the second half of the year. As a leading indicator, after two years of reduction, the number of ChinaSoft Int'l employees has slightly rebounded since May, which is in line with the management's optimistic guidance for the second half of the year. The bank has lowered its target price from HKD 5.4.
China National Software & Service Company Limited (SHSE:600536) Stock Most Popular Amongst Retail Investors Who Own 51%, While Private Companies Hold 37%
Chinasoft Int'l (00354.HK) spent HKD 4.2404 million on August 16th to buy back 1.2 million shares.
On August 16, Gallop (00354.HK) announced that on August 16, 2024, it will use 4.2404 million Hong Kong dollars to repurchase 1.2 million shares at a repurchase price of 3.51-3.56 Hong Kong dollars per share.
Continuously promoting the global strategy of "1+3" business layout, Chinasoft International (00354) announced its interim performance with shareholders' attributable net profit of 0.286 billion yuan.
Chinasoft Int'l (00354) has released its interim results for the six months ended June 30, 2024...
Chinasoft Int'l (00354.HK) had a net profit of 286 million yuan in the first half, down 18.6% year-on-year.
Chinasoft int'l (00354.HK) announced on August 15th that in the first half of 2024, the company's revenue was 7.926 billion yuan, a 6.2% decrease year-on-year; the net profit attributable to owners of the company was 0.286 billion yuan, a decrease of 18.6% year-on-year; basic earnings per share was 10.93 cents.
Guotou Securities: AI computing power is the focus of technology competition between China and the United States, with strong demand for localization and large space.
In the current period with increased uncertainty in the internal and external environment, increased uncertainty in the basic stock fundamentals, and difficulty in capturing investment opportunities in segmented directions, it is more necessary to closely follow the national strategic direction, maintain long-term strategic determination, and actively seize investment opportunities that are self-controlled.
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