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<Research>Citi Cuts CHINA LIT (00772.HK) TP to $37 w/ Rating Buy on Multiple Catalysts
Recommend 4 Positive 3 Negative 5 |
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CHINA LIT (00772.HK) experienced a 25% YoY decline in adjusted net profit for 2025, primarily due to disappointing New Classics Media (NCM) business performance from delayed TV dramas and loss-making films, while non-NCM businesses were largely in line with expectations, Citi Research issued a research report saying. Citi Research raised its 2026/ 2027 revenue forecasts for the Group by 5%/ 7% to RMB7.9 billion/ RMB8.3 billion, and lowered its adjusted net profit forecasts for each year by 6%/ 7% to RMB1.4 billion/ RMB1.5 billion, respectively. CHINA LIT has dropped about 22% over the past month as the market digested the profit warning. Looking ahead into 2026, progress in AI-generated series is expected to be a positive catalyst. Therefore, the broker cut its target price for CHINA LIT from $38 to $37, with rating at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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