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The Hang Seng Tech Index included Meituan (00300.HK) while Weibo (09898.HK) was removed in the quarterly review.
Hang Seng Index announced the results of the quarterly review, with Hang Seng Tech Index including Midea (00300.HK) and removing Weibo-SW (09898.HK), maintaining 30 constituents of the indices. All changes will be implemented after the market closes on December 6, 2024 (Friday) and will take effect starting on December 9, 2024 (Monday).
gf sec: Maintain weibo-SW "buy" rating, reasonable value 92.31 Hong Kong dollars.
GF Securities released a research report stating that it maintains a 'buy' rating on Weibo-SW (09898), with projected company revenue reaching $1.76 billion and $1.85 billion in 2024-25, increasing by 0.2% and 4.8% respectively. Adjusted net income attributable to shareholders for 2024-25 is expected to be $0.481 billion and $0.49 billion, with increases of 6.7% and 2.0%, respectively, and a fair value of HK$92.31. Weibo demonstrated its potential as an event-based social media platform in the operation during the Olympics, continuously attracting advertising budgets due to its platform characteristics. The company is enhancing the upgrade of new product launch marketing products, with a decline in the beauty category.
Weibo Likely to Face Continued Pressure on Revenue -- Market Talk
Major bank rating | CICC International: Lowered the target price of weibo to HK$77.22, with advertising spending recovery slowing down.
Gelonghui, November 21 - Jianyin International released a report indicating that Weibo's third-quarter performance exceeded the expectations of the bank and the market, with the biggest highlight being the company's robust advertising revenue driven by the Paris Olympics, particularly significant contributions from advertisers in the csi sws food & beverage index and sports outfits. However, as the Olympics conclude, the company's advertising revenue may resume a downward trend. The bank believes that a comprehensive consumer recovery is the only way for Weibo to reverse its business trajectory since more than two-thirds of its advertisers come from consumer-related industries, rendering its business highly skewed towards brand advertising. Until there is more clarity on Weibo's recovery timetable, the bank remains conservative.
Daiwa cut Bank of China International's rating for Weibo (09898.HK) to 'Neutral' with a target price lowered to 77.22 yuan.
Jianyin International published a report indicating that Weibo (09898.HK) exceeded both the bank's and market expectations in the third quarter, with the biggest highlight being the robust advertising revenue driven by the Paris Olympics, particularly with significant contributions from advertisers in the food & beverage and sports outfits sectors. However, with the end of the Olympics, the company's advertising revenue may begin to decline again. The bank believes that a comprehensive recovery in consumer spending is the only way for Weibo to turn around its business, as over two-thirds of the company's advertisers come from consumer-related industries, making its business heavily reliant on brand advertising. Before there is more clarity on Weibo's recovery timetable in the future, the bank remains conservative.
CCB International Downgrades Weibo to Neutral, $9.90 Price Target
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