Citi maintains hengan int'l 'Neutral' rating with target price lowered to 21.1 Hong Kong dollars.

Citigroup's research report stated that it maintains a "neutral" rating on Hengan International (01044), downgrading net profit forecasts for 2024 to 2026 by 15% to 17% to reflect weakening sales and profit prospects in the industry downturn and intense price competition. The target price has been revised down from HK$25 to HK$21.1, equivalent to a forecast PE ratio of 9 times for next year. The bank mentioned that in a recent meeting with Hengan International's management, they believe that due to intense price competition, operational deleveraging, and reduced government subsidies, the company's sales and profit margins in the second half of the year will be more challenging than the first half. However, the management maintains the annual dividend at HK$1 per share.

Sina Hong Kong Stock MarketNov 26 12:31

Citi lowers the target price for Hengan (01044.HK) to 21.1 yuan, with a difficult sales and profit outlook for the second half of the year.

Citigroup's report stated that, recently met with management of Henderson Land Development (01044.HK), believing that due to intense price competition, operational deleveraging, and reduced government subsidies, the company's sales and profit margin in the second half of the year will be more severe than the first half trend. However, the management maintains the fixed annual dividend at 1.4 RMB per share, implying a dividend yield of 6.9%, which is an attractive level. Citigroup lowered its net profit forecast for Henderson Land from 2024 to 2026 by 15% to 17%, to reflect weakening sales and profit prospects in the industry headwinds and intense price competition. The target price is lowered from 25 yuan to 21.1 yuan.

AASTOCKSNov 26 10:11

Hengan Int'l (01044.HK) received shareholding of 1.4288 million shares of common stock by Lazard Asset Management LLC, valued at approximately 32.8629 million Hong Kong dollars.

Reported on November 6th, according to the documents disclosed by the Hong Kong Stock Exchange on November 6th, lazard Asset Management LLC increased its shareholding in Hengan International (01044.HK) at an average price of HK$23.0 per share on October 31st, acquiring 1.4288 million ordinary shares, with a total value of approximately HK$32.8629 million. After the shareholding increase, lazard Asset Management LLC's latest number of shares held is 58.7321 million shares, and the holding proportion has increased from 4.93% to 5.05%. Image Source: Stock Exchange Share Disclosure.

Futu NewsNov 6 17:04

Hong Kong stock concept tracking | The Ministry of Commerce will introduce a batch of new policies in the consumer sector. Institutions are bullish on the growth of paper demand brought about by the recovery in consumer spending (with concept stocks)

The Ministry of Commerce will work with relevant departments to introduce a batch of new policies in the consumer sector.

Zhitong FinanceNov 1 13:21

China Galaxy Securities: The paper industry continues to be under pressure from the continued contradiction between supply and demand, with prices continuing to decline.

Currently, the demand side of the pulp and paper industry is weak, coupled with concentrated capacity release, the supply-demand contradiction continues to be under pressure, and prices continue to decline.

Zhitong FinanceOct 15 13:42

BOCI Research of Bank of China International: Optimistic about the Hong Kong stock market outlook for the fourth quarter, short-term recommendation to focus more on large banks, major state-owned real estate enterprises, leading construction companies, an

BOCI Research reports that the trading volume in the Hong Kong stock market over the past two weeks has hit a historical high. The bank believes that the funds flowing into Hong Kong stocks are mainly trading funds and passive funds, leading to short-term market volatility. CICC believes that a more flexible monetary policy combined with a comprehensive and proactive fiscal policy is key to driving economic growth and improving the fundamentals of listed companies, which will help restore stock market valuations. The bank remains optimistic about the outlook for the Hong Kong stock market in the fourth quarter. In terms of major investment strategies, it is recommended that investors focus more on large banks, large state-owned real estate companies, leading construction companies, and high-quality stocks in the short term.

AASTOCKSOct 14 10:12