Editor/Futu News Bob
Futu News reported on May 18 that after Tongcheng Yilong opened higher today, stock prices rose rapidly. As of press release, Tongcheng Yilong rose 11.39% to HK$20.05, with a turnover of HK$135 million.
Tongcheng Yilong Q1 performance:
Tongcheng Yilong announced its performance yesterday. For the three months ending March 31, 2021, the company's revenue increased 60.6% year on year to RMB 1,614 million; adjusted EBITDA increased 162.7% year on year to RMB 417 million; adjusted EBITDA profit margin increased to 25.9% from 15.8% in the same period in 2020; adjusted profit increased 279.5% year on year to RMB 296 million; adjusted net profit margin increased from 7.8% in the same period 2020 to 18.4%.
Photo Source: Company Announcements
Major bank ratings:
Daimo raised Tongcheng Yilong's target price to HK$23, maintaining the increase in holdings.
Macquarie raised Tongcheng Elong's target price to HK$21.7, maintaining outperform the market.
Goldman Sachs pointed out that Tongcheng Yilong's quarterly performance beat expectations and maintained a target price of HK$21.2.
J.P. Morgan maintains Tongcheng's Eilong holdings increase rating, with a target price of HK$20.