The Zhitong Finance App learned that Lyon released a research report stating that it reiterated the “buy” rating of China Construction International (03311), raised the 2023-24 profit forecast by 3% to 4%, and raised the target price from HK$9.1 to HK$10.6. The company's sales and net profit increased 32% and 17% respectively last year. Profit was slightly higher than the bank's forecast by 1%, while new orders rose 15% year over year, mainly due to a rise in technology-led projects, as well as better turnover and stronger cash flow. As the company switched to short-term projects, operating cash flow increased to 212 million yuan, and shareholders' return on equity (RoE) continued to improve.