China Construction Bank Corporation (00939) saw a 1.8% year-on-year decrease in net income in the first half of this year, and a 4% year-on-year decrease in core profit, both of which are in line with the forecast by Bank of America Securities.
According to the Wise Finance app, Bank of America Securities released a research report stating that considering the strong balance sheet and attractive dividend yield of China Construction Bank, the easing of cost control partially alleviated the income pressure. The stock remains a defensive core choice, with the profit forecast for the fiscal years 2024 to 2026 of China Construction Bank being raised by up to 4%. The H-share target price is raised from 7 Hong Kong dollars to 7.08 Hong Kong dollars, and the "buy" rating for China Construction Bank Corporation (00939) is reiterated. The company saw a 1.8% year-on-year decrease in net income in the first half of this year, and a 4% year-on-year decrease in core profit, both of which are in line with the bank's forecast.
