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Express News | Wall Street Banker Bonuses Jump 31.5% to Average $244,700 for 2024, New York State Comptroller Says
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J.P. Morgan: Raises Shenzhou International Group Holdings Limited Unsponsored ADR Target Price to HKD 96, Rating "Shareholding".
JPMorgan released a Research Report stating that Shenzhou International Group Holdings Limited Unsponsored ADR (02313) had impressive performance last year. Management's guidance for this year indicates a sales growth of 10%, stable average selling prices, and a positive outlook for the first half of the year since the first quarter's performance exceeded the annual target, combined with clear expectations for second-quarter orders. This year, the gross margin will remain stable, the tax rate will be flat, overseas production capacity will further expand, and last year's dividend yield reached 56%. The bank will revise its earnings forecast for Shenzhou over the next two years up by 3% and raise the Target Price from HKD 94 to HKD 96, maintaining a 'Shareholding' rating. The bank expects Shenzhou's sales and profits to increase by 12% and 11% respectively this year, with the Net income margin.
JPMorgan: CHINA RES MIXC's announcement of a special dividend is a pleasant surprise, rating "Shareholding".
JPMorgan released a Research Report stating that CHINA RES MIXC (01209) saw its core net profit increase by 20% year-on-year to 3.5 billion yuan last year. It was also pointed out that after announcing a special dividend in the first half of the year, the company will distribute an additional special dividend of 0.614 yuan per share for the whole year, representing an annual payout ratio of 138% and a dividend yield of 7.4%, which is an unexpected surprise. The bank's Target Price for the company is HKD 36, with a rating of "Shareholding."
Morgan Stanley: Raised SUNNY OPTICAL's Target Price to HKD 65, rating "Neutral".
JPMorgan released a Research Report stating that SUNNY OPTICAL (02382) holds a positive outlook for this year, with the main revenue driver coming from the Autos Business. Due to the stabilization of average prices and improvements in product mix, profit margins are expected to continue to increase. Although JPMorgan believes that the worst is over for SUNNY OPTICAL, it maintains a 'neutral' rating for the group, considering that the growth prospects for the group's Smart Phone and XR businesses will normalize this year, while other new businesses such as Siasun Robot&Automation still need time to make a more significant contribution. However, the bank has revised the group's earnings per share forecast for this year up by 6% to 2.7 yuan.
J.P. Morgan: Raised the Target Price for WUXI XDC to HKD 46, maintaining a "Shareholding" rating.
JPMorgan released a research report stating that WUXI XDC (02268) saw sales and adjusted net income grow by 91% and 171% year-on-year, respectively, last year. However, management still maintains guidance for over 35% year-on-year sales growth in the fiscal year 2025. The bank believes this target is slightly too conservative. It noted that due to WUXI XDC's high base last year, combined with strong backlog orders and new orders, it has raised its sales forecast for this year by about 20% and further increased long-term sales forecasts for 2026 and beyond by 23 to 24%. The bank has raised its sales forecast for the group from 2025 to 2033 by 20 to 24%, and it has increased the target price for WUXI XDC.
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