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Zhejiang Dafeng Industry (603081.SH): Received the "Bank Of Communications Share Buyback Loan Commitment Letter."
On February 17, Gelonghui reported that Zhejiang Dafeng Industry (603081.SH) announced that it has recently obtained the "Bank Of Communications Share Buyback Loan Commitment Letter" issued by the Ningbo Yuyao Branch of Bank Of Communications, committing to a loan limit of no more than 135 million yuan, solely for the purpose of buying back the company's shares.
CITIC SEC: The next phase of absolute returns in the Banks sector is still worth期待. Two main lines are recommended.
CITIC SEC's Research Reports state that the performance summaries released for 2024 show that the overall operation of the listed Banks is stable.
Zhitong Hong Kong Stock Shareholder Equity Disclosure | February 17
Disclosure of Shareholder equity in Hong Kong stocks | February 17.
【Brokerage Focus】CITIC SEC expects fluctuations in the capital market in February, with the annual credit expansion pace possibly showing a "low at both ends and high in the middle".
Jinwu Finance | CITIC SEC stated that looking at the forward financial data, due to factors at the beginning of the year combined with a high base figure, the bank expects the increase in RMB loans in January to approach 5 trillion yuan, and the growth rate of social financing is expected to maintain around 8.0%. The favorable start to lending at the beginning of the year and the government's proactive fiscal measures, along with the multidimensional effects of precise regulation by monetary authorities, have resulted in a neutral to tight funding environment in January. Looking ahead, the sustainability of the favorable start to lending, the pace of government bond issuance, and the intensity of liquidity injections by the central bank may be core determining factors for the funding market and credit market in the next stage. The funding market in February is expected to have space for fluctuations, and the pace of credit expansion for the whole year may present.
Citigroup: It is expected that the Bank of Communications and CQRC BANK exceeded expectations with significant earnings growth last quarter.
Citigroup released a research report stating that based on the latest operational trends, the expected year-on-year changes in revenue/profit for banks in the interior are projected to be 0% and +2.1% respectively, compared to -1.2% and +1.4% in the first nine months. The main reasons include the impact of the 924 policy, expecting significant growth in retail loans in the fourth quarter; in the fourth quarter, due to the rise in the bond market, substantial trading profits are anticipated; and the low performance base of Q4 2023 provides a favorable comparison for growth. Among the banks covered by Citigroup, Bank Of Communications (03328) and CQRC BANK (03618) are expected to perform well in 2024.
CITIC SEC: The Banks Sector returns to the fundamental framework, focusing on absolute return opportunities.
The difference between the dividend yield and the risk-free yield has widened, which also implies an enhancement in the potential allocation strength of Banks stocks.
