Gelonghui, April 3 | Citibank released a rating report saying that China Railway's revenue and net profit last year were 1,263 billion yuan and 31.8 billion yuan, up 9% and 8% year-on-year respectively. Among them, net profit performance fell short of expectations. Last year's net impairment losses doubled to 7.147 billion yuan year-on-year, falling short of expectations. The bank lowered the company's profit forecast for 2024-25 by 4% to 7%, and lowered its target price from HK$7.6 to HK$7, maintaining its rating as “buy”. Based on getting more involved in “assembly and synthesis” construction, I am more optimistic about Chinese architecture.
大行评级｜花旗：下调中国中铁目标价至7港元 下调2024年至25年盈测
Big Bank Rating | Citibank: Lowering China Railway Target Price to HK$7, Lowering Profitability Forecast 2024-25
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