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Soochow: Maintains TENCENT "Buy" rating, with AI Business oriented towards application implementation and industrial practicality.
Soochow Securities released a research report stating that it expects TENCENT (00700) to have adjusted net income of 217.4/240.6/265.3 billion yuan for the years 2024-2026, corresponding to a PE (Non-IFRS) of 17/15/14 times for 2024-2026, maintaining a "Buy" rating. The firm believes that a major advantage of TENCENT's AI is its rich application ecosystem, which both provides an efficient traffic entry point for the company's AI products to reach users and enhances the practicality of the company's AI products, accelerating their implementation and commercialization. Soochow Securities' main viewpoints are as follows: Development history: "Industry
Soochow: Initiates ALPHAMAB-B with a "Buy" rating. The dual-antibody ADC pipeline leads to the future.
Soochow released a research report stating that it is initiating coverage on ALPHAMAB-B (09966), giving it a "Buy" rating, with projected revenue for the company in 2024-2026 being 0.305 billion yuan, 0.414 billion yuan, and 0.471 billion yuan respectively; Net income is projected to be -0.146 billion yuan, 0.014 billion yuan, and 0.063 billion yuan. The company is a CSI Leading Technology Index enterprise in China, with its differentiated pipeline gradually entering a harvest phase, and there is a bullish outlook on the company's long-term development. Key commercialized products in the future will be KN035, KN026, and JSKN003, with risk-adjusted revenue expected to reach in 2031.
Soochow Securities (601555.SH): Suzhou Asset Management plans to increase registered capital for existing Shareholders.
On December 13, Gelonghui reported that Soochow Securities (601555.SH) announced that Soochow Securities and Soochow Innovation Capital together hold 20% equity in Suzhou Asset Management. Suzhou Asset Management intends to increase its registered capital targeted at existing shareholders. Soochow Securities will collaborate with Guofa Group, the Park Economic Development, and other related parties to increase the capital of Suzhou Asset Management at the appraised price (1.52 yuan/share) through its wholly-owned subsidiary, Soochow Innovation Capital, of which Soochow Innovation Capital will contribute 239.1536 million yuan from its own funds. The participation price of Soochow Innovation Capital in the capital increase has a premium of 15.11% compared to the net asset value of Suzhou Asset Management on its books. Some shareholders of Suzhou Asset Management intend to participate in this capital increase.
Soochow Securities: Maintains a 'buy' rating on Volkslight Technology, third-quarter performance exceeds market expectations.
Soochow Securities released a research report stating that it maintains a "buy" rating for Suoteng Juchuang (02498). The company released its Q3 2024 report, indicating that for the first three quarters of 2024, the company achieved revenue of 1.13 billion yuan, +91.5% year-on-year; net income attributable to the parent company increased by +69.0% year-on-year. In Q3 2024, the company achieved revenue of 0.41 billion yuan, +54.7% year-on-year, +11.4% quarter-on-quarter; net income attributable to the parent company rose by +77.4% year-on-year, +40.2% quarter-on-quarter. The company's performance exceeded market expectations. Soochow Securities' main points are as follows: ADAS shipments continue to grow significantly, with gross margin improving quarter by quarter. 20
Soochow: China Gas Hold actively explores business to create a second growth pole. First buy rating.
Soochow Securities released a research report stating that it is initiating coverage on China Gas Holdings (00384) with a 'buy' rating, expecting the company's net income attributable to shareholders for FY2025-FY2027 to be 4.017/4.464/4.914 billion Hong Kong dollars, a year-on-year increase of 26%/11%/10%. The company's city gas projects smoothly raised prices and improved price differentials; actively expanding overseas long-term contract resources to gain cost advantages. Soochow Securities' main points are as follows: a leading national urban gas company, profitability expected to rebound from the bottom. The company was established in 2002 and listed on the Hong Kong stock exchange the same year. Since 2008, it has gradually developed liquefied petroleum gas and value-added service businesses, transitioning to
Soochow: Inkeverse has recently received a shareholding from Kunlun Tech, reiterating the bullish outlook on the company's performance and maintaining a "buy" rating.
Soochow Securities released a research report stating that Inkeverse (03700) still has a high cost-performance ratio and maintains a "buy" rating. Kunlun Tech has been continuously increasing its shareholding in Inkeverse, with its shareholding ratio rising to 11.15%. Kunlun Tech's AI short drama platform SkyReels will launch in the USA on December 10, further expanding the global AI entertainment market. The fundamentals of Inkeverse are robust, with growth expected in new businesses, achieving revenue of 3.5 billion in H1 2024, a year-on-year increase of 13%, and outstanding performance in the short drama field. The company has ample cash on hand and plans to invest in cryptos to optimize asset allocation and promote WEB3.0 business.
Soochow Securities Co., Ltd.'s (SHSE:601555) Prospects Need A Boost To Lift Shares
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