bocom intl: Upgraded xinyi solar to "buy" with the target price lowered to 4.04 HKD.
Bocom Intl released a research report stating that it has upgraded xinyi solar (00968) to 'buy', due to the unexpected decline in photovoltaic glass prices and the company's output being lower than expected. The profit estimates for 2024-2026 have been reduced by 25%/35%/29%, and the target price has been adjusted to HKD 4.04 (originally HKD 4.09). The company's photovoltaic power generation business is relatively stable and can continuously provide cash flow, and its debt ratio is also significantly lower than its peers in photovoltaic glass. Therefore, while its peers are suffering losses and unable to expand production, the company can still overall profit and counter-cyclical expand production, putting it in a favorable position amid competition. Bocom Intl's main points are as follows: The price of photovoltaic glass continues.
In October, Hong Kong's CPI rose by 1.4% year-on-year and increased by 2.2% month-on-month.
In October 2024, the overall consumer prices in Hong Kong rose by 1.4% compared to the same month last year, lower than the corresponding increase of 2.2% in September 2024.
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.
Daiwa: Next year, nuclear power is the most preferred in the electrical utilities industry. CGN Power's target price has been raised to 2.9 Hong Kong dollars.
Daiwa released a research report stating that looking ahead to next year, the ranking is nuclear power/coal-fired power/hydropower, with renewable energy coming in last. The bank raised the target price of CGN Power (01816) from 2.1 Hong Kong dollars to 2.9 Hong Kong dollars; and upgraded the rating of China Resources Power (00836) from "underperform" to "hold," as bearish factors have eased and the yield has reached 4%. The bank believes that hydropower valuation in the industry is relatively high, requiring a better entry opportunity; the utilization rate and price reduction of wind power remains an issue. Daiwa explained that the electrical utilities sector has outperformed the overall market in the first three quarters, benefiting from these stocks' continued "de-risking".
Lai Kai Medicine-B intends to discount approximately 15.01% for the total of 17.636 million shares to be issued. The net proceeds are approximately 0.23 billion Hong Kong dollars.
Come Kai Pharmaceutical-B (02105) announced that on November 21, 2024, the company entered into a placement agreement with the exclusive placement agent. The company conditionally agreed to place a total of 17.636 million placement shares through the exclusive placement agent at a price of HKD 13.36 per placement share to no less than six subscribers. The price of HKD 13.36 per placement share represents a discount of approximately 15.01% to the closing price of HKD 15.72 per share reported on the Stock Exchange on November 20, 2024, which is the trading day just before the placement agreement date. The placement involves the placement of 17.636 million shares.
Yiming Angke-B plans to offer about 16.27% discount on the placement of a total of 33.15 million new listed in hong kong shares, raising approximately 0.23 billion HKD.
Yiming Anke-B (01541) announced that on November 21, 2024, the company entered into a placement agreement with the placing agent. The company has agreed to appoint the placing agent, and the placing agent has agreed to act as the company's exclusive placing agent, making efforts to ensure subscribers subscribe for a total of 33.15 million new listed in hong kong shares at a placement price of HKD 7.05 per share, according to the terms contained in the placement agreement and within the limits of the conditions set out in that agreement. The placement shares account for approximately 8.14% of the company's issued share capital after the placement shares are issued and allotted (assuming that the company's issued share capital has been issued up to the date of this announcement excluding the placement shares).
