Tianfeng: Maintain CTIHK's "Buy" rating, expected to become a direct beneficiary of Industry development and transformation.

Tianfeng released a research report stating that it maintains a "Buy" rating for CTIHK (06055), believing that the company, backed by the China Tobacco Group, has significant competitive advantages. It is currently the only overseas capital operation and international business expansion platform under China Tobacco, making it a rare entity and expected to become a direct beneficiary of the development and transformation of the Tobacco industry in China. The company forecasts its net income for 2024/25/26 to be 0.787/0.91/1.1 billion Hong Kong dollars; the company is the only international business platform within the China Tobacco system. The company issued a positive profit forecast, expecting that the profit attributable to owners for the full year of 2024 will increase by no less than 30% year-on-year.

Sina Hong Kong Stock.Dec 17 20:48 ET

Tianfeng Securities: Initiating coverage with a "Buy" rating for Chabaidao.

Recently, Tianfeng Securities initiated coverage on Cha Baidao (02555), assigning it a "Buy" rating. The report states that in terms of product capability, Cha Baidao's product matrix combines classic and seasonal limited products, leading the market with high cost performance; in terms of business model, the company's main source of income is from franchising, aiming for a more stable revenue source. Due to strict selection, only about 7% of candidates can become franchisees; in terms of supply chain, Cha Baidao continues to invest in supply chain construction. The firm expects that as supply chain efficiency improves and transportation costs are optimized, material costs will be effectively controlled, enhancing Cha Baidao's future gross profit.

Sina Hong Kong Stock.Dec 16 21:36 ET

Tianfeng: Maintains YUE YUEN IND ‘Buy’ rating with positive growth continuing in manufacturing in November.

Tianfeng released a research report stating that it maintains a "Buy" rating for YUE YUEN IND (00551), expecting the company's revenue for FY24-26 to be $8.65/9.65/10.94 billion, respectively; net profit attributable to parent company is expected to be $0.46/0.54/0.62 billion, respectively; and corresponding EPS is expected to be $0.28/0.33/0.38 per share, respectively. The company's revenue in November 2024 was $0.68 billion, a year-on-year increase of 7.5%, with cumulative revenue of $7.5 billion, a year-on-year increase of 3.4%. The main points from Tianfeng are as follows: The company released November data indicating that revenue from its manufacturing business in 2024 saw a year-on-year growth.

Sina Hong Kong StocksDec 13 05:07 ET

tianfeng Securities: Initiates Coverage on Kelun Botai Biomedical-B with a "shareholding" rating. Enhanced Commercialization Certainty.

Tianfeng released a research report stating that it has initiated coverage of Kelun Biotechnology-B (06990) with a "shareholding" rating. It forecasts the company's revenue for 2024-2026 to be 1.217 billion yuan, 1.654 billion yuan, and 2.476 billion yuan respectively; the net income attributable to the parent company is expected to be -0.72 billion yuan, -0.606 billion yuan, and -0.415 billion yuan. Considering the company's advantages in the ADC technology platform, substantial market space for core products, and promising overseas prospects, the company is viewed as bullish for development. The main viewpoints from Tianfeng are as follows: the ADC self-research capabilities are outstanding, with global research being advanced by Merck, and the certainty of commercialization is strengthened.

Sina Hong Kong stocksDec 8 20:57 ET

Tianfeng Securities: Ideal autos - W3-4Q fundamentals are gradually trending upwards with the expectation of recovery. The continuous improvement of store and infrastructure layout.

Tianfeng Securities released a research report stating that the bank believes that extreme emotions of concern about domestic consumption at the trade level have been digested in Q3. In fact, auto consumption saw a slight recovery in July driven by the policies of replacing old cars with new ones. The continuity of market demand thereafter is indeed difficult to determine, but the underlying fundamentals of Ideal Auto-W (02015) are expected to gradually improve in 3-4Q, and the bank predicts that the development of smart driving technology is expected to drive growth in vehicle value/gross margin.

Sina Hong Kong StocksDec 3 21:35 ET

Tianfeng Securities: Maintains a "buy" rating on China Longyuan, with asset injection helping to boost installed capacity growth.

Tianfeng Securities issued a research report stating that it maintains a 'buy' rating on China Longyuan (00916), with forecasted net income attributable to the parent company in 2024-2026 of 6.6, 7.5, and 8.2 billion yuan. The company announced its performance for the third quarter of 2024. In the first three quarters, the company achieved a revenue of 26.35 billion yuan, a year-on-year decrease of 6.37%; and a net income attributable to the parent company of 5.668 billion yuan, a year-on-year decrease of 11.38%. The main points from Tianfeng Securities are as follows: the equity of Jiangyin Sulong has been transferred, with a year-on-year increase of 2.4% in power generation for the first three quarters. The equity of Jiangyin Sulong Thermoelectric Co., Ltd. has been transferred, reducing the controlled installed capacity by 1.24 GW.

Sina Hong Kong stocksNov 7 03:16 ET