Glonghui, March 28 | CICC released a report saying that CITIC Securities's revenue last year fell 7.7% year-on-year to 60.1 billion yuan, net profit fell 7.5% year-on-year to 19.7 billion yuan, and annualized average net asset income fell 0.86 percentage points to 7.8% year-on-year, in line with performance forecasts and market expectations. Based on recent market conditions in various businesses, CICC lowered its profit forecast for this year and next year by 11% to 21.9 billion yuan and 25.4 billion yuan, respectively. The bank maintained its “outperforming the market” rating, and the target price of H shares was lowered by 12% to HK$18.2.
研报掘金｜中金：维持中信证券“跑赢大市”评级 目标价下调至18.2港元
Research Nuggets | CICC: Maintaining CITIC Securities' “Outperform the Market” Rating and Lowering the Target Price to HK$18.2
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