Express News | Guosen has resumed tracking Ping An Insurance A-shares, rating it as outperform, with a Target Price of 72.84 yuan.
Express News | Guosen: After the merger of Guolian and Minsheng Securities, the comprehensive strength has significantly improved, maintaining an "outperform market" rating.
Express News | Guosen: Initiates a 'Outperform Market' rating for EB ENVIRONMENT with a reasonable valuation of 4.48-4.73 HKD.
Express News | Another eight brokerages have been approved to participate in carbon emissions trading.
Express News | Guosen: Maintains the "Outperform Market" rating for Zhejiang China Commodities City Group, the Yiwu International Trade Comprehensive Reform Plan has been released.
Express News | Seven more Brokerages have been approved to enter the market, competing for opportunities in the carbon market.
Express News | Guosen: Participation in carbon emissions rights trade received a reply from the China Securities Regulatory Commission.
Express News | Guosen: The acquisition of 96.08% equity of Wanhua Securities has been approved by the Shenzhen State-owned Assets Supervision and Administration Commission.
Express News | Guosen's Wang Kai: Rebalancing supply and demand is the main theme of the A-shares market trend and industry allocation in 2025.
Guosen: Maintains TOPSPORTS 'Outperform Market' rating, with a reasonable valuation of 3.8-4 Hong Kong dollars.
Guosen released a research report stating that it maintains the profit forecast for TOPSPORTS (06110), expecting Net income for the fiscal years 2025 to 2027 to be 1.44/1.79/1.92 billion yuan, a year-on-year change of -35.1%/+24.5%/+7.6%. The reasonable valuation Range is 3.8-4 Hong Kong dollars, maintaining the 'outperform the market' rating. In the third quarter of the fiscal year 2025, the total sales amount of the group's retail and wholesale Business recorded a mid-single-digit decline year-on-year. As of November 30, 2024, the gross sales area of directly-operated stores decreased by 2.1% compared to the end of the previous quarter and decreased by 4.4% compared to the same period last year.
Express News | Guosen Securities: New technologies such as sodium batteries and Solid State Batteries are thriving.
Express News | Guosen: It is expected that the bidding for Ultra High Pressure/main network equipment will remain high in 2024, with a continued high prosperity trend in 2025-2026.
Guosen: Assigns LEAPMOTOR an "Outperform the Market" rating with a Target Price of 35.92-40.41 HKD.
Guosen released a research report stating that LEAPMOTOR (09863) is in a high-speed growth phase for the next three years, with expected revenue for 2024-2026 being 31.4/56.1/81.4 billion yuan respectively. Using the PS valuation method, the company's reasonable Market Cap for 2025 is estimated to be between 44.9-50.5 billion yuan, corresponding to a stock price of 35.92-40.41 HKD. This is the first coverage in the last year, with a "buy" rating. Guosen's main points are as follows: The domestic business of LEAPMOTOR is growing rapidly, partnering with international giants to expand overseas. LEAPMOTOR is a leading intelligent electric vehicle company in China, maintaining revenue growth in recent years.
Market Chatter: Chinese Brokerages Shuttering Branches to Remain Competitive
Express News | Guosen: Maintains Winner Medical's "Outperform Market" rating and raises the Target Price to 43-47 yuan.
Express News | Brokerage offices are undergoing "streamlining": more than a hundred have been closed this year, with competition shifting towards differentiated services.
Express News | Guosen: The public issuance of corporate bonds to professional investors has received approval from the China Securities Regulatory Commission.
Express News | Guosen: Maintaining the "outperforming the market" rating for Tongqinglou Catering Corporation, a rare growth symbol in the A-share Dining sector.
Express News | Returning to the original intention of "making money for clients"! Guosen's Vice President Cheng Fei latest statement.
Guosen: Assigning VSTECS an "outperform market" rating; overall operational efficiency in 2023 has shown stable performance.
Guosen released a research report stating that VSTECS (00856) is rated "outperform the market", expecting the company's net income for 2024-2026 to be 1.058/1.295/1.53 billion yuan respectively.
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