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Hang Seng Index's "big change" in December: Pop Mart, Kuaishou expected to be included, will the constituent stocks return to 100?
Currently, the Hang Seng Index in Hong Kong includes 82 stocks, with the ultimate goal of expanding the number of constituent stocks to 100. Analysis suggests that the medical care industry is still the least represented industry in the Hang Seng Index, while consumer staples, discretionary items, real estate, and construction may receive higher weights in the review in the fourth quarter of this year.
[Brokerage Focus] Bocom intl maintains a buy rating for Kuaishou (01024), indicating that its Q3 performance meets expectations.
Jingu Financial News | Bocom Intl issued research reports, indicating that Kuaishou (01024) achieved a year-on-year increase of 11% in total revenue/adjusted net income in the third quarter of 2024, meeting the bank/market expectations. The adjusted net margin is 12.7%, a decrease of 2.4 percentage points from the previous quarter. E-commerce GMV increased by 15% year-on-year, with 0.133 billion monthly active buyers, maintaining a growth trend (+12% year-on-year). The contribution of non-storefront GMV has increased to 27%. Online marketing revenue increased by 20%, mainly driven by external circulation advertisements, while short videos/platform e-commerce/local lifestyle industry continued to maintain high growth in advertising spending. Looking ahead, the bank expects the fourth-quarter revenue to be the same.
Kuaishou spent 0.162 billion Hong Kong dollars to repurchase 3.452 million shares on November 21.
Kuaishou-W (01024.HK) announced on November 21st that it spent 0.162 billion Hong Kong dollars to repurchase 3.452 million shares on November 21st, with a repurchase price of 46.05-49.75 Hong Kong dollars per share.
Jefferies Adjusts Kuaishou Technology's Price Target to HK$80 From HK$78, Keeps at Buy
Hong Kong stock market review: Hang Seng Index fell by 0.53%, Hang Seng Tech Index fell by 1.24%, mainland real estate stocks showed a noticeable decline.
Most of the large technology stocks fell, with Kuaishou dropping 11.7% after earnings, marking the weakest performance.
Futu: Upgrade Kuaishou-W to a "buy" rating, with a target price increase to HK$80.
Futu Research released a report stating that the target price for Kuaishou-W (01024) has been raised by 2.6%, from 78 Hong Kong dollars to 80 Hong Kong dollars, with a rating of "buy." Kuaishou's adjusted profit in the third quarter increased by 24% year-on-year to 3.95 billion yuan, which basically meets market expectations and exceeds the bank's forecast. The bank believes that if assessed by business segments, the total trade value of Kuaishou's commodities will grow in the fourth quarter of this year, expected to align with market expectations. It also maintains that the growth in the number of active merchants and consumer merchants remains strong, and external advertising revenue is likely to benefit from the rapid growth trend of short videos, with gross margins expected to continue to expand, likely reaching 54% in the fourth quarter, leading to adjusted profits.
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