The Zhitong Finance App learned that BOC International released a research report stating that it maintained the “neutral” rating of Haitong Securities (06837) and lowered the target price by 16% from HK$5 to HK$4.2. The company expects losses of 3.35 billion yuan to 3.44 billion yuan in a single quarter for the fourth quarter, which is significantly higher than the bank's and market expectations. Profit forecasts are adjusted according to the performance report, investment income assumptions are lowered, and credit impairment loss assumptions are raised. Profit in 2024 is expected to pick up from the low point in 2023.