Citigroup Reaffirms Buy Rating for ONEWO, Trims Price Target to HK$22.6

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Yesterday

Citigroup has issued a research report stating that despite a challenging market environment and transitional pressures on ONEWO's (02602) profit margins and provisions, the group has comprehensively strengthened its operations through various business activities. This is expected to support stable performance between 2026 and 2028. ONEWO remains committed to delivering consistent and stable dividend returns to shareholders, having achieved a payout ratio of 81% last year. The bank anticipates further potential for an increase in the dividend payout ratio this year, possibly reaching 65%. Citigroup has adjusted its target price for ONEWO from HK$30 to HK$22.6, which implies a forecasted price-to-earnings ratio of 11 times for the current year, while maintaining a "Buy" rating on the stock.

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