Gelonghui, November 15 | CICC published a rating report, according to a rating report published by CICC, showing net revenue of HK$5.868 billion for the third quarter, up 471% year-on-year and 9% quarterly, returning to 71% in the third quarter of 2019; adjusted EBITDA was HK$566 million, which turned into profit on a yearly basis, returning to 60% in the third quarter of 2019, which is basically in line with market expectations. CICC believes that the performance of the Australian Expo reflects that Shanghai Lisboa Properties and satellite casinos still recorded EBITDA losses, but the recovery of Grand Lisboa and other self-promoted casinos continued to meet expectations. CICC lowered the Australian Expo's EBITDA forecast for this year by 23% to HK$1,795 billion, and next year's forecast by 2% to HK$4.118 billion, because the EBITDA balance of Shanghai Property was slower than expected. CICC lowered its target price by 16% to HK$3.1, maintaining its rating as “neutral”.