EB ENVIRONMENT (00257) rose more than 4% again, with an increase of 3.86% at the time of writing to HK$5.37. The turnover reached HK$66.5029 million. Citigroup issued a research report stating that EB ENVIRONMENT's annual net profit increased by 16.2% year-on-year to HK$3.925 billion, with the second-half net profit surging 86.1% year-on-year to HK$1.718 billion. Full-year profit exceeded market expectations by 10%, primarily due to financial costs and impairment losses both being lower than anticipated. The bank believes that EB ENVIRONMENT's robust free cash flow can support sustained and stable dividend growth. Bank of America Securities indicated that it expects the company's free cash flow to remain at a high level of approximately HK$9 billion from 2026 to 2028, with low capital expenditure becoming the new norm. After deducting financing costs, the free cash flow yield reaches 20%. Supported by earnings per share growth and strong free cash flow, the bank anticipates dividends will continue to rise, and management has reaffirmed its commitment to shareholder returns. The proposed A-share listing could potentially lead to a valuation re-rating.