The Zhitong Finance App learned that Bank of America Securities released a research report saying that it maintained the Changhe (00001) “buy” rating and lowered the 2023-24 profit forecast by 9% to 14%, mainly increased depreciation and amortization. However, the forecast for earnings before interest, tax, depreciation and amortization (EBITDA) was lowered to 4%, and the target price was raised from HK$60 to HK$64.

The bank said that according to business segmentation, it is expected that the recovery of the company's retail industry this year will benefit from the domestic economy. It is also estimated that the EBITDA performance of Changhe's port is weak, mainly due to the sharp decline in joint profits from shipping liners and lower storage revenue. Coupled with Europe's continued inflationary pressure and low energy contribution.