Glonghui, May 9 | UBS released a report. Bank of China Hong Kong's operating profit for the first quarter increased by 16.8% year-on-year to HK$12.9 billion, slightly higher than the forecast. Benefiting from strong non-interest income, better-than-expected loan growth and lower impairment losses, it is believed that the market will respond positively to this performance and maintain its “neutral” rating, with a target price of HK$21.8.