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Cautious Investors Not Rewarding China International Capital Corporation Limited's (HKG:3908) Performance Completely
CICC: Maintains the "Outperform" rating for MGM China, with a target price of HK$18.8.
China International Capital Corporation released a research report stating that due to faster-than-expected growth in gambling revenue, MGM China (02282) has revised its adjusted EBITDA forecast for 2024 and 2025 by 3% and 2%, respectively, expecting to reach 9.405 billion and 10.807 billion yuan. The bank maintains the group's "outperform" rating, with a target price of HK$18.8. The bank stated that MGM China's performance continued to lead, with second quarter revenue recovering to 144% of the same period in 2019, and adjusted EBITDA increasing by 40% year-on-year to 2.443 billion yuan, reaching 168% of the same period in 2019, and overcoming market and China International Capital Corporation's forecasts by 22%.
CICC: Maintains neutral rating for Xinyi Solar, lowers target price to HKD 4.8.
China International Capital Corporation (中金公司) has released a research report stating that Xinyi Solar (信义光能) performed as expected in the first half of the year, with a 4.5% year-on-year growth in revenue and a 41% year-on-year growth in net profit. However, compared to the second half of last year, they fell by 12.4% and 29.8% respectively. The company's neutral rating is maintained, while the target price is lowered to HKD 4.8 by China International Capital Corporation. Considering weaker than expected market demand, China International Capital Corporation has accordingly lowered Xinyi Solar's net profit forecast for this and next year by 18% and 23% respectively, to HKD 4.238 billion and HKD 4.989 billion. China International Capital Corporation believes that as an industry leader, Xinyi Solar has the ability to cope with cyclical impacts. However, considering industry valuations ...
Trending Industry Today: HOLLY FUTURES Leads Gains In China-Affiliated Brokerage Stocks
China-affiliated brokerage is strong. Holly Futures (03678) rose 43.7%. Institutions point out that the negative impact of regulation and policies has already been reflected in the current undervaluation.
Jinwu Financial News | China-affiliated brokerage stocks rallied strongly, with Holly Futures (03678) up 43.7%, Guolian Securities (01456) up 6.43%, China International Capital Corporation (03908) up 5.99%, China Galaxy (06881) up 6.22%, CITIC Securities (06030) up 5.84%, and Orient (03958) up 5.18%. Sinolink Securities said that the follow-up catalyst for the brokerage sector's market may mainly come from liquidity improvement, high investment elasticity, marginal policy relaxation, and M&A expectations.① Expectations for the Fed rate cut have increased significantly and are expected to continue to release domestic room for reserve requirement and interest rate cuts from the
Brokerage Focus: Bocom Intl's development plan for capital markets is in line with the key points of the Third Plenary Session's 'Decision' on capital markets and the New Ten Articles of the Nation.
Jingu Finance News | Bocom International stated that the Third Plenary Session of the 18th Central Committee of the Communist Party of China proposed deepening the reform of the financial system, making clear arrangements for the comprehensive deepening of the reform of the capital market. The key points of the Decision on capital markets are in line with the development plan for the capital market in the New National Policy on Financial Services for the 13th Five-Year Plan period. The CSRC has already introduced a 1 + N policy system for supporting this. The Decision proposes to establish a long-term mechanism to enhance the inherent stability of the capital market. The bank believes that enhancing the inherent stability of the capital market requires systematic measures. The bank looks forward to more investment-side reform measures to promote long-term investment. The Decision further points out the direction for serving as a new kind of productive force for the capital market. The bank believes that
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