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Pacific Securities: pay attention to investment opportunities in the fields of food and fodder additives, and phosphorus chemicals.
Pacific Securities research reports suggest focusing on investment opportunities in the food and fodder additive, and phosphorus chemicals sectors.
HKEX Movement: yihai intl (01579) drops more than 4% again. Credit Suisse expects its net profit in the first half of the year to decline by a single digit percentage. HSBC thinks that its growth in May and June is lower than expected.
Yihai Intl (01579) dropped more than 4%, as of the time of publication, it fell by 3.75% to HKD 11.8, with a transaction value of HKD 3.8521 million.
Dah Sing Securities lowered the target price of Yihai Intl (01579.HK) to HKD 15 and maintained a 'outperform' rating in the industry.
China International Capital Corporation Limited has released a research report predicting that Yihai International's (01579.HK) revenue will continue to grow steadily. Its revenue in the first half of this year is expected to increase by about 10% year-on-year. Both related party and third-party revenues have grown by about 10%. However, due to the expected decrease in forex income and government subsidies compared to the same period last year, it is predicted that the profit in the first half of the year will decrease by 14% year-on-year to about 0.31 billion yuan, slightly lower than the market expectation. CICC has lowered its profit forecast for the company in the next two years by 6.9% to 0.87 billion and 0.95 billion yuan respectively, to reflect the expected decrease in gross margin. CICC maintains its "shareholding" rating and believes in its dividend return.
Credit Suisse: Maintains 'in line with the market' rating for Yihai International (01579), target price lowered to HKD 13.2.
Credit Suisse expects yihai intl's total sales to increase by 11% in the first half of the year.
Dah Sing has lowered its target price for Yihai Intl (01579.HK) to 13.2 yuan, due to weak sales in June.
According to the report released by Daiwa, due to lower-than-expected sales in June, reduced operating expenses in previous periods, and other income, the sales revenue and net profit forecast for Yihai International (01579.HK) have been lowered. The bank expects that Yihai International's total sales in the first half of the year will increase by 11%, which is lower than the previously expected growth rate of 17%, due to weaker-than-expected growth momentum in May and June. The bank believes that the gross margin will slightly expand due to favorable factors in raw material prices. Due to the reduction in government subsidies and possible foreign exchange losses, net profit in the first half of the year is expected to decrease by 13% year-on-year. Daiwa maintains a rating of "synchronized with the market" for Yihai International with a target price of 17.
Yihai Intl(01579.HK): Steady income growth performance with slight disturbances from exchange rate and government subsidies.
Forecasting a 14% year-on-year decrease in profits for the first half of 2024, slightly lower than market expectations. We expect Yihai's revenue to increase by around 10% for the first half of 2024, with associated third-party growth rates also at around 10%. We anticipate a profit of 0.31 billion for the first half of 2024.
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