Glonghui, April 1 | Bank of America Securities released a research report stating that it reaffirmed the “buy” rating of Master Kong Holdings and believes that the company's prospects are good this year. Also, the earnings forecast per share for this year and next two years was raised by 2% and 3%, and the target price was raised from HK$10.6 to HK$11.5. We are still optimistic about the company's steady growth and steady dividend ratio. Currently, the valuation is not high. According to the report, the company's performance last year was in line with expectations. Revenue for the period increased 2.2% year on year to 80.4 billion yuan, and the bank's forecast was 80.7 billion yuan; among these, instant noodles and beverage revenue fell 2.8% and increased 5.4% respectively. Net profit rose 18.4% to $3.117 billion, slightly higher than the bank's forecast of $3.111 billion. The bank believes that although Master Kong is still cautious and does not provide guidance on this year's net profit forecast, natural gross profit is expected to expand steadily over the next three to five years.