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<Research>Citi Expects BOC HONG KONG to Have Relatively Large Exposure to CHINA VANKE's Debt Risk
Recommend 14 Positive 11 Negative 15 |
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CHINA VANKE (02202.HK) seeking to extend the maturity of RMB2 billion medium-term notes due December marked the first time the company has requested an extension for public market bonds, Citi's research report indicated. This event was assumed to negatively impact short-term sentiment in the real estate sector. Compared to other Hong Kong banks, BOC HONG KONG (02388.HK) was believed to have a relatively large exposure to Vanke's debt risk. The EPS forecast on BOC HONG KONG for 2025 remained largely intact, while the 2026 EPS forecast was revised down by 2%. The target price on BOC HONG KONG was lowered from HKD42.3 to HKD41.3, with the Buy rating maintained. AASTOCKS Financial News Website: www.aastocks.com |
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