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<Research>CICC Trims SHENZHOU INTL's TP to HKD62.48 With Rating Kept Outperform
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SHENZHOU INTL (02313.HK)'s 2025 revenue increased by 8% YoY to RMB31 billion, while net profit attributable to shareholders fell by 7% YoY to RMB5.8 billion, which would have decreased by 1% YoY if excluding the one-time gain from asset disposal in the same period last year, CICC's research report said. The company's worse-than-expected results were attributable to rising labor costs, tariff sharing, the damage of the RMB appreciation on the gross margin, and increased foreign exchange losses. Considering the fluctuations in terminal demand and macroeconomic factors, CICC has cut its 2026 EPS forecast for SHENZHOU INTL by 15% to RMB4.09 and introduced a 2027 forecast of RMB4.38. SHENZHOU INTL's rating remains Outperform, but its target price dropped by 15% to HKD62.48. AAStocks Financial News |
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