CITIC International menurunkan proyeksi pendapatan dan laba bersih Jiu Mao Jiu untuk tahun 2025-27, memberikan harga target sebesar 2,79 HKD berdasarkan rasio harga terhadap laba 19 kali untuk tahun 2026, dan mempertahankan rating "Netral". Laporan tersebut menunjukkan bahwa penjualan di toko yang sama terus menurun, tetapi merek Tai Er diperkirakan akan membaik di paruh kedua tahun ini.

Golden Ten Data melaporkan pada 23 Mei bahwa China Merchants Securities mengeluarkan laporan penelitian yang menunjukkan bahwa WuXi XDC (02268. Diyakini bahwa dengan keunggulan integrasi CRDMO, perusahaan akan membantu dan menemani pertumbuhan perusahaan terkemuka dan proyek bintang, dan ruang skala besar M-end patut dinantikan. Bank optimis tentang potensi pertumbuhan grup di masa depan, mengharapkan laba bersihnya pada 2025-27 masing-masing mencapai RMB1,44 miliar, RMB1,88 miliar dan RMB2,56 miliar, menutupi saham untuk pertama kalinya dan memberikannya peringkat "sangat direkomendasikan".

Data Jin10 6 Mei: Goldman Sachs menerbitkan laporan penelitian yang menunjukkan, net profit China COSCO Shipping Ports (01199.HK) naik 33% secara tahunan di kuartal pertama, tetapi turun 4% secara kuartalan, kinerjanya lebih baik dari ekspektasi, terutama didorong oleh kinerja luar negeri grup. Bank tersebut menaikkan proyeksi volume barang di pelabuhan Eropa grup, serta menaikkan proyeksi net profit untuk tahun 2025 hingga 2027 sebesar 1 hingga 2%, setelah melakukan penyesuaian kapitalisasi pasar terhadap aset yang terdaftar, target harga diturunkan dari 5,4 HKD menjadi 5,3 HKD, dengan rating beli tetap dipertahankan.

DBS merilis laporan penelitian yang menunjukkan bahwa harga saham GCL-Poly Energy diperkirakan akan berfluktuasi sejalan dengan harga polysilicon dan kebijakan pemerintah. Diperkirakan produksi perusahaan tahun ini akan turun 30%, tetapi harga produk diperkirakan akan naik lebih dari 10%. Meskipun proyeksi laba tahun ini diturunkan menjadi 61 juta yuan, diperkirakan laba tahun depan dapat rebound menjadi 1,7 miliar yuan. DBS mempertahankan rating beli, dengan harga target diturunkan menjadi 1,3 dolar Hong Kong.

Golden Ten Data melaporkan pada 20 Maret bahwa Macquarie menerbitkan laporan penelitian, percaya bahwa Anta Sports (02020. HK) diperkirakan akan terus meningkatkan pangsa pasarnya pada tahun 2025, dan pendapatan setahun penuhnya saat ini diperkirakan akan tumbuh sebesar 12% tahun-ke-tahun, di mana pendapatan merek ANTA, FILA dan merek lainnya diperkirakan akan meningkat masing-masing sebesar 8%, 5% dan 41,5%. Bank masih percaya bahwa penjualan ritel merek ANTA pada kuartal pertama tahun ini diperkirakan akan mencapai target pertumbuhan persentase satu digit tertinggi setahun penuh, dan peningkatan kontribusi toko baru akan menjadi pendorong utama, dengan peringkat "outperform" dan target harga HK $ 132.

JPMorgan Chase memperbarui peringkat pertambangan BTC dan harga target saham berdasarkan laporan kinerja kuartal keempat 2024: IREN naik ke pertahankan, target harga turun menjadi $12; Cipher Mining turun ke netral, menarik target harga; Riot Platforms dan CleanSpark mempertahankan pertahankan peringkat, target harga masing-masing turun menjadi $13 dan $12; MARA Holdings dinilai netral, target harga turun menjadi $18.

Odaily Planet Daily News Morgan Stanley has raised the rating of BTC mining company IREN from "Neutral" to "Hold", and lowered the rating of Cipher Mining from "Hold" to "Neutral", as well as maintaining a "Hold" rating for Riot Platforms and CleanSpark, and a "Neutral" rating for MARA Holdings. (Coindesk)

Labuan Mining's net profit surged last year, mainly benefiting from high metal prices and cost control. BOC International expects the company's profit to continue to rise by 1.3 times this year, raising profit forecast and maintaining a 'buy' rating. The target price was slightly reduced to 4.07 Hong Kong dollars.

Dahua Securities released a research report, stating that ZTE's performance in the fourth quarter of the 2024 fiscal year was lower than expected, with a 10.3% decrease in revenue and a big dump of 65.1% in profit. Maintaining a "hold" rating on it, with a raised H-share target price of 26.5 Hong Kong dollars. The net profit for 2025 and 2026 is expected to be revised down, taking into account changes in business revenue and cost control.

Trusta Labs mengumumkan rebranding menjadi Trusta.AI, membangun jaringan identitas yang dapat dipercaya di era kecerdasan buatan, dengan tujuan menjadi lapisan kredit yang mencakup manusia dan kecerdasan buatan. Trusta.AI meningkatkan layanan otentikasi, mendukung berbagai metode otentikasi dan mencakup berbagai blockchain utama; memperkenalkan MEDIA Rating 2.0, mengukur kontribusi pengguna; meluncurkan kerangka identitas agen AI, berencana untuk mengeluarkan identitas yang dapat diverifikasi untuk 1 juta kecerdasan buatan, mendorong perkembangan ekonomi kecerdasan buatan.

Data Jinshi 26 Februari, laporan penelitian Citigroup mengubah target harga Horizon Robotics (09660.HK) dari 6 HK$ menjadi 12,3 HK$, peringkat ditingkatkan dari netral menjadi beli, dan memulai pengamatan katalis 90 hari ke atas. Citigroup meningkatkan perkiraan penjualan Horizon untuk tahun ini dan tahun depan sebesar 25%, masing-masing mencapai 5,24 juta dan 8,38 juta, dan meningkatkan perkiraan pendapatan grup sebesar 29% dan 30%. Bank tersebut memperkirakan kerugian bersih tahun ini sebesar 696 juta yuan RMB (dibandingkan dengan perkiraan kerugian bersih sebelumnya sebesar 1,11 miliar yuan RMB), sementara untuk tahun depan perkiraan laba bersih sebesar 1,47 miliar yuan RMB (dibandingkan dengan perkiraan laba bersih sebelumnya sebesar 607 juta yuan RMB).

Nomura released a report raising the target price of Kingdee International to 19 Hong Kong dollars, maintaining a buy rating. Kingdee's SaaS transformation has achieved results, expecting profitability in 2025, DeepSeek may accelerate AI application development. However, soft IT spending is expected to impact revenue growth in 2024. Net loss in 2024 is forecasted to narrow to 98 million RMB, with revenue and profit forecasts for 2025 being revised down by 3% and 12% respectively.

Morgan Stanley released a research report stating that it maintains a 'buy' rating on HSBC Holdings with a target price adjusted to 92.3 Hong Kong dollars. HSBC Holdings performed well in the fourth quarter of last year, with adjusted pre-tax profits exceeding expectations and controllable costs. The company's tangible equity return guidance for 2025 and 2025-2027 is 14% to 16%, and the stock price is expected to be positively impacted.

Goldman Sachs reported that it lowered its future profit forecast for Huahong Semiconductor, mainly due to pricing pressure and increased depreciation and amortization. The forecast for 2024 earnings per share is lowered by 1%, 2027-2029 by 3%, revenue forecast by 5%-0%, gross margin lowered by 2 to 0 percentage points, operating profit lowered by 11%-33%. The expected net income change is relatively mild, with the target price lowered to 31 Hong Kong dollars, and the rating changed from 'buy' to 'neutral'.

Citigroup telah merilis laporan yang menurunkan perkiraan laba bersih Li Ning untuk tahun 2025 dan 2026 sebesar 12% dan 9% serta menurunkan pendapatan sebesar 4%. Bank ini menurunkan ekspektasi margin keuntungan Li Ning dengan mempertimbangkan protokol kerjasama COC yang baru diumumkan. Citigroup percaya bahwa pendapatan grup akan naik secara signifikan pada tahun 2026 karena manfaat kerjasama COC akan sepenuhnya terwujud. Citigroup meningkatkan target harga Li Ning dari HKD 14,36 menjadi HKD 15,91 dan memberikan rekomendasi netral.

Goldman Sachs released a report stating that the stock price and bond prices of New World Development fell by approximately 40% and 30% respectively, reflecting market concerns about the sustainability of the company's current debt level and recovery path. The bank adjusted its earnings per share forecast for New World Development from this year to 2027 and lowered its target price from 5.8 Hong Kong dollars to 5.1 Hong Kong dollars, maintaining its "sell" rating. The bank stated that in order to reduce debt levels and capital leverage, New World Development may need to sell more assets.

Target harga Anta Sports (02020.HK) naik 2% menjadi 110 HKD, dengan peringkat "beli" yang dipertahankan. Laporan menyebutkan bahwa data operasional kuartal lalu kuat, pendapatan ritel FILA pulih dengan cepat, dan merek inti perusahaan terus mengembangkan di luar negeri. Perkiraan laba per saham perusahaan untuk tahun 2024 hingga 2025 juga dinaikkan sebesar 1% hingga 2%.

Data Gold 10 pada 2 Januari melaporkan bahwa Goldman Sachs memperbarui target harga Lenovo Group (00992.HK) sebesar 4,6%, dari HKD 12,7 menjadi HKD 13,28 dan mempertahankan rekomendasi pembelian. Perusahaan tersebut dianggap memiliki valuasi menarik saat ini, dan tingkat laba bersih akan pulih secara bertahap pada tahun keuangan 2027-2028 menjadi 2,7-2,8%, yang sama dengan tingkat pada tahun keuangan 2022-2023. Goldman Sachs menurunkan perkiraan laba bersih untuk tahun keuangan 2025-2027 sebesar 16%/13%/6% untuk perusahaan tersebut dan memperkenalkan perkiraan untuk tahun keuangan 2028. Goldman Sachs memperkirakan bahwa pada tahun 2025 pendapatan Lenovo akan naik 18% year-on-year, dengan margin laba kotor mencapai 16,6%, yang berkelanjutan, dan sangat diuntungkan oleh AI.

Golden Finance reported that according to Reuters/Ipsos poll data, Biden's job approval rating in December was 38%, 41% of Americans have a favorable view of Trump, while this figure was 51% at the same time in 2016.

Morgan Stanley merilis laporan penelitian yang mengatakan bahwa kewajiban kinerja Oracle yang tersisa pada kuartal kedua turun menjadi $ 97 miliar, volume pesanan menurun 11% tahun-ke-tahun, dan volume pesanan berubah dari naik menjadi turun. Tingkat arus kas bebas akan terus berada di bawah tekanan karena belanja modal yang lebih tinggi, dan saham kemungkinan akan tetap berada di kisaran Fluktuasi, dengan peringkat "sinkron" dan target harga $175.

Data Gold 28 November, Jefferies in the outlook for 2025 stated that the escalation of political issues in France could potentially dampen the enthusiasm of Asian investors to purchase French government bonds. "In our view, French bonds may face risks in the first quarter of next year." Jefferies stated that France is facing political issues, the current government is unlikely to pass key reform measures, and there is a risk of re-election after next summer. By 2025, the net supply of French government bonds will significantly increase, and if there are any rating or political risks, Asian investors may be unwilling to purchase French bonds.

Citigroup's report states that Hengan faces intense price competition, operational deleveraging, and decreased government subsidies, among other factors. Sales and profit margins will be even more challenging in the second half of the year, with a projected 15% to 17% decrease in net profit forecast for 2024 to 2026. However, the management maintains an annual dividend of RMB 1.4 per share, with a dividend yield of 6.9%. Citigroup has lowered the target price to HKD 21.1, while maintaining a neutral rating.

UBS released a report stating that Wangwang's mid-term performance fell below expectations, with a decline in sales, maintaining a buy rating with a target price lowered to 5.8 Hong Kong dollars. The company announced that it will not distribute interim dividends, and the demand side challenges are evident. UBS lowered Wangwang's net profit forecast for the 2025 and 2026 fiscal years by 8% and 7% respectively, expecting sales and net profit to remain flat in the 2025 fiscal year and adjusted the subsequent net profit growth rate.

Data Gold 11 November, MERCHANTS Shekou Industrial Zone Holdings Co., Ltd. disclosed the interest payment arrangement for the first tranche of medium-term notes (variety 2) in 2021. The bond is abbreviated as "21 MERCHANTS Shekou MTN001B", bond code 102103012.IB, with an issuance amount of 1.5 billion yuan, the interest accrual date is November 18, 2021, and the issuance term is 5 years. According to the announcement, the bond balance is 1.5 billion yuan, the latest rating is AAA, the interest rate is 3.55%, the interest payment date is scheduled for November 18, 2024, and the interest payment amount for this period is 53.25 million yuan.

CICC has given a "buy" rating to SMIC, with a target price of 32 Hong Kong dollars. The bank predicts that the company's gross margin will reach 20% by 2025, higher than market expectations. The company will steadily advance its plan for a 12-inch wafer factory with a total capacity of 340,000 wafers per month. Preceding capital expenditures will return to a relatively normal level in 2025/26. The bank predicts that the company's capacity utilization rate will stabilize from a low point of 68.1% in the first quarter of 2023 to 84.7% in 2024.

Data Gold 10, 4 November, Morgan Stanley issued a report, on China Petroleum (00857.HK) management teleconference held a positive view, that the company's strong outlook for natural gas demand and unit profitability for the fourth quarter of this year and next year, while the company is also committed to improving the dividend policy. The bank said that the third quarter's oil price decline had a negative impact of 2 billion yuan on PetroChina's operating profit, but was offset by tax savings, reduced exploration costs, and subsidies for unconventional natural gas. Morgan Stanley maintained a 'hold' rating on PetroChina, with a target price lowered from 10 Hong Kong dollars to 9 Hong Kong dollars.

Huawei Power announced the issuance of 366 million new shares to third-party investors and its parent company, raising HK$7.2 billion for optimizing its capital structure. The new share issuance is sufficient to cover most of the capital expenditures from 2024 to 2025. The opportunity for additional equity financing on the Hong Kong stock platform in the next 1 to 2 years is low. The dilution after the new share issuance led to a 6.5% and 6.4% downward revision in earnings per share forecast for the next two years, with the target price lowered to HK$25.02, maintaining a buy rating.

Gold Finance reported that the global research of Bank of America raised the target price of NVIDIA to 190 US dollars - meaning there is a 39% pump space compared to the latest Harga Penutupan, which was previously 165 US dollars; maintaining a buy rating.

Moody's issued a warning that the US government must address the growing fiscal deficit, otherwise the country's sovereign credit rating will be significantly affected; it is expected that the government will continue to be divided after the November elections, hindering fiscal reform. The report calls for policy action, otherwise the debt dynamics will become increasingly unsustainable, not in line with the Aaa rating.

Data Gold 16 September, Goldman Sachs publishes a report, lowering its earnings forecast by 2%, 4%, and 5% respectively for Hong Kong Exchanges and Clearing Limited (00388.HK) for the years 2024 to 2026, to reflect the Volume Perdagangan in August and Volume Perdagangan since September. Maintain a buy rating with a target price lowered by 4.4% to HKD 306, equivalent to a forecasted P/E ratio of 35 times for 2025.

HSBC Global Research released a report stating that the first half of the year's income performance of Sino Biopharm exceeded expectations, with promising prospects for PD-1 and IL-2, maintaining a buy rating with a target price of 58 Hong Kong dollars. It is expected that the revenue from 2024 to 2026 will increase by 28% to 32%, achieving a balanced income and expenditure in 2025; it is considered to have an attractive valuation.

建银国际 menurunkan target harga layanan Country Garden sebesar 32,7% menjadi HKD 3,7, menurunkan peringkat dari 'netral' menjadi 'kalah pasar', terutama berdasarkan aliran kas operasional (OCF) hanya menyumbang 15% dari laba bersih inti, laba bersih h1 2024 turun 38,7% menjadi 1,44 miliar yuan, laba bersih inti turun 31,7% menjadi 1,84 miliar yuan, kas bersih turun 88% menjadi 270 juta yuan, terutama karena peningkatan piutang sebesar 2,2 miliar yuan, risiko kredit dari mitra perdagangan dan kepercayaan pelanggan menurun.

Keuntungan Kangshifu naik 12,7% dalam setengah tahun pertama, lebih tinggi dari Konsensus pasar; Kenaikan harga diperkirakan akan mempengaruhi volume penjualan tetapi menguntungkan margin laba kotor dan margin laba bersih; Penelitian HSBC telah meningkatkan peringkatnya dari tahan menjadi beli, dengan target harga naik dari HKD 10,4 menjadi HKD 10,8.

CITIC Securities pointed out that the GLP-1 peptide industry chain will not be affected by the FDA shortage catalog status update in the short term, while oral semaglutide will drive long-term demand for GLP-1 raw materials. At the same time, the commercialization opportunities for global generic injectable formulations have increased, and the formulation equity split is expected to bring profit elasticity and sustainability. Maintain the industry's 'stronger than the market' rating.

Pada 1 Agustus, Morgan Stanley mengeluarkan laporan yang menyatakan, seperti yang disebutkan dalam laporan bank minggu lalu, kinerja New Oriental Education & Technology Group (09901.HK) pada kuartal ini dan kuartal berikutnya diperkirakan buruk. Oleh karena itu, reaksi negatif pasar terhadap ekspektasi kinerja kali ini dapat dimengerti. Bank tersebut memangkas perkiraan laba per saham sekitar 10%. Namun, perkiraan pendapatan pendidikan saham tersebut sebagai persentase nilai wajar tetap di atas 95% (saat ini 100%). Mengingat kondisi fundamental, investor yang sabar tidak memiliki alasan untuk panik. Bank tersebut menurunkan target harga New Oriental dari HK$71 menjadi HK$66 dan mempertahankan rekomendasi beli.

Laporan yang diterbitkan oleh China Golden Data menunjukkan bahwa pendapatan bersih Standard Chartered Bank pada kuartal kedua adalah US$4,806 miliar, naik 5,5% YoY; laba sebelum pajak adalah US$1,828 miliar, naik 14,3% YoY. Namun, pinjaman naik lebih rendah dari yang diharapkan dan pendapatan non-bunga sedikit di bawah ekspektasi, tetapi bisnis pasar keuangan dan manajemen kekayaan menunjukkan kinerja yang baik. China Golden Data mempertahankan rating netral dan menurunkan perkiraan laba tahunan sebesar 4,5% menjadi US$3,827 miliar. Target harga adalah HK$82,8.

Odaily Planet News - Morgan Stanley pointed out that the acquisition of Block Mining by Riot Platforms is a wise move, which makes Riot the second largest listed mining company in the United States. The bank has a buy rating on Riot's stock with a target price of $12.

Citi raised the target price of Bubble Mart to HK$45, maintaining an "outperform" rating. Bubble Mart released a profit forecast for the first half of 2024, with sales and net profit expected to increase by no less than 55% and 90% year-on-year, respectively, expected to benefit from brand equity and cost optimization measures, among others. Citi raised its sales forecast for 2024-2026 by 5-7% and increased its net profit forecast by 18-26%.

Data Gold July 15th, Goldman Sachs issued a report pointing out that the target price of China Resources Land (01109.HK) was slightly lowered by 2%, from 35.3 Hong Kong dollars to 34.5 Hong Kong dollars, and the earnings forecast per share for 2024-2026 was slightly lowered by 1%, 2%, and 2%, mainly considering the latest land akuisisi and contract sales performance. Goldman Sachs does not consider these changes to be very important, so it still maintains a "buy" rating. Goldman Sachs maintains an optimistic outlook on the long-term naik prospects of China Resources Land, mainly because of its leading industry in property investment (IP) operations, strong balance sheet, and strong land reserves in major cities in the mainland.

Data 26 Juni, Morgan Stanley mempertimbangkan kinerja bisnis di kuartal pertama 2024 dari Fuyao Glass (03606.HK) dan meningkatkan perkiraan laba per saham untuk dua tahun mendatang masing-masing sebesar 3% dan 5%, menjadi 2,6 yuan dan 3,1 yuan, untuk mencerminkan perbaikan portofolio produk, margin laba yang lebih tinggi, dan stabilitas biaya. Bank ini meningkatkan target harga dari 36 HKD menjadi 39 HKD dan mempertahankan peringkat yang sejalan dengan pasar.

Golden Finance reported that Linea stated that Surge Volt 2 has been launched, which will provide users with an LXP-L rating system update. Surge Volt 1 ended on June 16th, Volt