On September 6, Guosen Securities released a research report stating that China Railway Construction Corporation's income in the first half of the year fell 4.6% YoY, while net profit fell 12.8%. The company's second-quarter income fell 9.8% YoY, and net profit fell 24.1%, lower than expected, mainly due to the decline in income and the significant increase in financial expenses caused by the increase in interest-bearing liabilities. Taking into account the slowdown in traditional infrastructure investment growth, the bank lowered its net profit forecast for the company to 24.1 billion, 23.1 billion, and 22.4 billion yuan for 2024 to 2026. The bank lowered its target price from HK$6.67 to HK$5.84 and maintained a "buy" rating.
研报掘金｜华泰证券：下调中国铁建目标价至5.84港元 下调2024至26年纯利预测
Research reports | htsc: Lowering the target price of China Railway Construction Corporation to HK$5.84, lowering the forecasted net profit for 2024-2026.
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