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<Research>CLSA Cuts TP of CHINA OVS PPT (02669.HK) to HKD5.5, Maintains Outperform Rating
Recommend 5 Positive 3 Negative 2 |
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CLSA published a research report on CHINA OVS PPT (02669.HK), which experienced steady revenue growth in 2025, but adverse market conditions led to a margin compression and profit reduction. Net profit sank by 9.7% YoY to RMB1.4 billion. Including the special DPS, the full-year DPS declared was HKD0.2, marking an 11.1% YoY hike. The management indicated a willingness to allow a gradual upward adjustment in payout ratio. With the support of CHINA OVS PPT's parent company, CHINA OVERSEAS (00688.HK), and its ability to secure third-party projects, CHINA OVS PPT's business will continue to grow, albeit at a slower pace. The target price was reduced from HKD6.1 to HKD5.5, with the Outperform rating maintained. AASTOCKS Financial News Website: www.aastocks.com |
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