In 2024, MINSHENG BANK's profits will decline, and the Earnings Conference addressed the loan situations of Orient Group Incorporation, the Oceanwide Group, and others.

The performance report released by MINSHENG BANK for 2024 shows that the bank achieved revenue of 136.29 billion yuan, a year-on-year decrease of 3.21%; it realized a Net income attributable to Shareholders of 32.296 billion yuan, a year-on-year decrease of 9.85%.

lanjinger.comApr 2 17:56

HSBC Research has lowered the Target Price for MINSHENG BANK (01988.HK) to 3.3 yuan and revised down earnings forecasts.

According to a report by HSBC Research, MINSHENG BANK (01988.HK) recorded an 11% decline in earnings per share last year, which is lower than the bank's and market's expectations; the dividend payout ratio remains stable at 30%. The bank believes that ongoing de-risking may compress equity ROI, however, faster deposit growth may indicate a rebuilding of client relationships. Following MINSHENG BANK's performance, the bank has lowered its earnings per share forecasts for this year and next by 11.3%, while introducing an earnings per share forecast for 2027 at 0.7 yuan. The Target Price for H shares has been slightly reduced from 3.4 yuan to 3.3 yuan, maintaining a 'Hold' rating.

AASTOCKSApr 2 15:35

Research Reports for Treasure Digging | GTJA: Maintains MINSHENG BANK's "Shareholding" rating and raises the Target Price to 4.55 yuan.

Gelonghui, April 2 | GTJA's Research Reports pointed out that MINSHENG BANK (600016.SH) adheres to its positioning of serving private enterprises and small to micro customers. In recent years, it has deepened structural transformation and optimized process management, resulting in significant improvements in the quality and efficiency of newly generated business. However, influenced by the industry's economic conditions combined with some Shareholders' operational issues, existing problem Assets have not yet been completely resolved, and the provision coverage is lower than comparable peers, making it difficult to support profits in the short term. Phase performance is likely to remain at the bottom. The forecast for the Net income growth rate for 2025-2027 has been adjusted to -6.4%, -1.1%, 1.6% (new), corresponding to BVPS 1.

Gelonghui FinanceApr 2 15:34 · Ratings

Minxing (01988.HK): Provisions for loans to Evergrande Group have been made according to the actual situation of the projects, which has no substantial impact on the Operation.

According to domestic media reports, the Vice President of Minhang (01988.HK), Huang Hongri, responded regarding the loan situations of Orient Group Incorporation, ASIA STANDARD, and Evergrande Group. He stated that as of the end of last year, the loan balance for Evergrande was 9.1 billion yuan (RMB), all of which were real estate project loans. Currently, the proportion of Evergrande loans in the overall loans of the bank is not high, and provisions have been made according to the actual situation of the projects, which has no substantial impact on the bank's operation. Huang Hongri mentioned that as of the end of last year, the total loan balance of the Orient Group in the bank was 7.694 billion yuan, a decrease of about 1.9 billion yuan compared to the end of the previous year, which accounts for a relatively low proportion of the bank's overall loans, and the bank has considered the client risk status.

AASTOCKSApr 2 11:21

MINSHENG BANK responded to the loan situation of Evergrande Group and others: provisions have been made.

On April 2nd, according to China Securities Journal, Huang Hongri, the deputy governor of MINSHENG BANK, responded on April 1st at the bank's performance release conference for 2024 regarding the loan situation of ASIA STANDARD and Evergrande Group, stating that by the end of 2024, the loan balance of Evergrande Group at MINSHENG BANK will be 9.1 billion yuan, all of which are loans for Real Estate projects.

Gelonghui FinanceApr 2 11:04

MINSHENG BANK (600016): Performance stabilizes and consolidates, stable dividends, and low valuation provide a safety margin.

Introduction to this report: MINSHENG BANK's revenue and net income attributable to shareholders for 2024 show a year-on-year negative growth, in line with expectations, and asset quality remains stable. Considering the transition in valuation across the year and a stable dividend rate, the Target Price has been raised to 4.55 yuan, maintaining a Shareholding rating.

GTJAApr 2 07:57