Zhongtai International released a research report saying that maintaining Chaoyun Group's (06601.HK) “buy” rating, the multi-sector business resumed steady growth, reduced costs and increased efficiency with significant cost reduction and efficiency improvements. Operational efficiency was improved. FY24E gross margin was raised to 44.9%, net profit was raised to 190 million yuan, up 6.0% year on year, and the target price was raised to HK$2.9. As of the end of FY23, the total cash on the company's accounts was about 2.90 billion yuan. The company maintains a high dividend payout ratio of about 7%-8%, and the valuation is attractive.
中泰国际：维持朝云集团(06601.HK)“买入”评级 目标价上调至2.9港元
China-Thailand International: Maintaining Chaoyun Group's (06601.HK) “Buy” rating and raising the target price to HK$2.9
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