BOCI Lowers CHINA RES MIXC (01209) Target Price to HK$42.91, Maintains "Buy" Rating
Stock News
Aug 29
BOCI released a research report stating that CHINA RES MIXC (01209) recorded first-half revenue growth of 6.5% year-on-year to RMB 8.5 billion, meeting expectations. Gross margin increased 3.1 percentage points to 37.1%, exceeding the firm's expectations. Core net profit grew 15% to RMB 2 billion, falling short of expectations. The firm indicated it will reduce earnings per share forecasts for 2025-2027 by 5.2% to 8.2%, lowering the target price from the previous HK$45.87 by 6.5% to HK$42.91, while maintaining a "Buy" rating. The firm remains optimistic about China Resources MixC's strong market position in the commercial sector and its high gross margin.
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