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研报掘金丨平安证券:东方财富用户流量稳定领先,维持“推荐”评级

Research reports | Ping An Securities: East Money Information user traffic remains stable leading, maintains a 'recommended' rating

Gelonghui Finance ·  Oct 28 15:32  · Ratings

On October 28th, Guolonghui reported that Ping An Securities research reports pointed out that the net income attributable to the mother of East Money Information (300059.SZ) in the first three quarters was 6.042 billion yuan (YoY -2.69%); total assets were 326.5 billion yuan (+36% from the end of the previous year). Looking at income items, in the first three quarters of 24 years, net fee and commission income were 3.55 billion yuan (YoY -5%), mainly contributed by broker net income, interest net income was 1.51 billion yuan (YoY -10%), revenue was 2.24 billion yuan (YoY -27%), and the fund distribution business is expected to continue to be under pressure. Since late September, against the backdrop of improving internal and external liquidity and the rapid implementation of policy combinations, the A-share market trading activity has rapidly rebounded. The company's early layout in internet wealth management, stable user traffic leadership, high proportion of brokerage and margin trading income, both fundamentals and valuations have a significant beta attribute. The company's net income attributable to the mother for 24/25/26 is raised to 8.45/9.15/10 billion yuan (from the original forecast of 8.2/8.88/9.71 billion yuan), corresponding to year-on-year growth of 3.2%/8.3%/9.3%, maintaining a "recommended" rating.

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