Express News | According to Mingming, the policy priority may place reserve requirement ratio cuts above interest rate cuts.

Breakings01:02

CITIC SEC: Initiates a "Buy" rating on NetEase Cloud Music with a Target Price of 181 Hong Kong dollars.

CITIC SEC released a Research Report stating that it expects NetEase Cloud Music (09899) to have adjusted Net income of 1.833/2.135/2.509 billion yuan for the years 2025-2027. Combining the results from the SOTP valuation method and DCF valuation method, a Target Price of 181 Hong Kong dollars per share is given, with initial coverage and a rating of "Buy". The firm stated that NetEase Cloud Music is a leading online music platform in China, boasting a highly interactive and youthful music Community ecosystem. The firm believes that with the improvement in the competitive landscape, an increase in users' willingness to pay, and the reshaping of the value chain, the online music Industry has entered a phase of healthy growth.

Sina Hong Kong StocksApr 21 16:27

Express News | CITIC SEC: It is expected that the bond market will experience short-term fluctuations within a Range.

BreakingsApr 21 14:01

Express News | Positive economic data supports the stability of the LPR for now, while interest rate cuts and reserve requirement ratio reductions remain the focus during the policy game.

BreakingsApr 21 13:26

CITIC SEC: TONGCHENGTRAVEL fully acquires Wanda Hotel Management, maintaining a "Buy" rating.

CITIC SEC released a Research Report stating that TONGCHENGTRAVEL (00780) recently announced a full acquisition of Wanda Hotel Management (Hong Kong) Company for 2.497 billion yuan, further improving its hotel management Business layout. The acquired symbol Wanda Hotel Management uses a light Asset Operation model, currently managing 204 high-end and luxury hotels, and possesses 17 million high-end member resources, which complement the existing membership system of eLong Hotel Management well. In the medium to long term, the company's core OTA Business is expected to continue leading the Industry through traffic advantages and technological empowerment, and the company is expected to support new businesses such as PMS, travel agencies, and hotel management through both organic and external development.

Sina Hong Kong stocksApr 21 11:10

CITIC SEC: Maintaining the "Buy" rating for CSC DEVELOPMENT with a Target Price of 3 Hong Kong dollars.

CITIC SEC released a research report stating that CSC DEVELOPMENT (00830) published its first-quarter report for 2025, achieving revenue of 2.092 billion yuan, a year-on-year increase of 3.0%, and realized operating profit of 0.432 billion HKD, an increase of 0.2% year-on-year. With the growth of the Hong Kong and Macau regions and Emerging Markets + BIPV industry, the company's performance is expected to experience rapid growth. Considering the comparable companies' PE ratios and the company’s historical PB valuation, a target market cap of 6.7 billion HKD is assigned for 2025, corresponding to a target price of 3 HKD, maintaining a 'Buy' rating.

Sina Hong Kong stocks.Apr 21 11:09