The Zhitong Finance App learned that Citigroup released a research report saying that maintaining the ESR (01821) “buy” rating, lowered the profit forecast for 2023-25 by 15% to 19%, and lowered the target price from HK$20.6 to HK$17.6. The company's adjusted profit after tax and minority equity (PATMI) for the first half of the year fell 26% year on year to US$304 million, lower than the bank's expectations, while adjusted EBITDA fell 18% year on year to US$550 million, and the mid-term dividend per share remained the same year on year. According to the bank, in terms of capital circulation, since the beginning of the year, the company has withdrawn 1 billion US dollars of investment projects according to the plan. This shows its asset-light trajectory, and believes that the company provides stable profit prospects for investors.