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China Merchants Securities: give a "shareholding" rating to China Res Beer, with a target price lowered to 37 Hong Kong dollars.
China Merchants Securities issued a research report stating that China Res Beer (00291) is expected to have a flat performance in the first half of the year, but the profit margin still increased due to efficiency, and believes that the potential good replenishment momentum in the peak season proves that the "shareholding" rating is reasonable, and the stock price has digested the first half-year performance. The company showed signs of demand recovery in early July; the trend needs to be confirmed. The target price was adjusted from HKD 45.4 to HKD 37, and the earnings forecast was lowered by 11%. China Merchants Securities stated that the full-year revenue growth expectation for Res Beer was lowered from 12.6% to 4.9% to reflect the flat performance in the first half of the year, and it is expected to achieve a growth of 10% in the second half of the year. The full-year gross margin forecast was increased.
China Railway has completed the issuance of 2 billion yuan of corporate bonds.
China Railway (0390) announces that the issuer, China Railway Limited, has obtained approval from the Shanghai Stock Exchange and registration with China Securities Regulatory Commission by virtue of the Permission for Securities Supervision of the China Securities Regulatory Commission (Document No. [2023]1327) to publicly issue corporate bonds not exceeding 60 billion RMB for professional investors. China Railway Limited will publicly issue technology innovation renewable corporate bonds (first tranche) for professional investors in 2024, with the issue size not exceeding 2 billion RMB (including 2 billion RMB) and the issue price of 100 RMB per bond. This tranche.
China Merchants will distribute a cash dividend of 0.252 yuan per share of A stock on July 16th.
China Merchants Securities (06099) announced that it will distribute a cash dividend of 0.252 yuan per A share on July 16, 2024.
China Merchants Securities (600999.SH) plans to distribute a dividend of 0.252 yuan per share in 2023, with ex-rights and ex-dividends on July 16.
China Merchants Securities (600999.SH) announced that it plans to distribute a cash dividend of 0.252 yuan per share for the year 2023.
China Merchants Securities (06099) will distribute a cash dividend of RMB 0.252 per share in A-share on July 16.
China Merchants Securities (06099) announced that it will distribute cash dividends per share of A shares on July 16, 2024...
China Merchants securities: First recommended rating for Lao Pu Gold with a strong recommendation, rapid growth in performance in 2023.
China Merchants Securities released a research report, giving a "strong recommendation" rating for the first coverage of Lao Pu Gold (06181). The company's performance grew rapidly last year, with revenue growth of 146% and net income growth of 340%. Against the backdrop of a large market space for ancient gold and high-end jewelry, the company has growth opportunities. The bank pointed out that the company's same-store sales are currently growing rapidly, the medium- and long-term expansion space is large, and the high-end positioning and full direct sales channels bring high profitability. It is expected that the company's net income from 2024 to 2026 will be RMB 709 million, 863 million, and 1.005 billion, respectively, with a year-on-year increase of 70%.
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