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<Research>BOCI Keeps Rating at Buy on CHINA RAIL CONS (01186.HK), Expects 6% YoY NP Growth This Yr
Similar to China Railway Group (CREC), CHINA RAIL CONS (01186.HK) is facing operational pressures, BOCI released a research report saying. Its 2024 revenue/ net profit decreased by...
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<Research>BOCI Keeps Rating at Buy on CHINA RAIL CONS (01186.HK), Expects 6% YoY NP Growth This Yr
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Similar to China Railway Group (CREC), CHINA RAIL CONS (01186.HK)  -0.010 (-0.181%)   is facing operational pressures, BOCI released a research report saying.

Its 2024 revenue/ net profit decreased by 6.2%/ 14.9% YoY each, while its decline continued in 1Q25, with revenue/ net profit slipping by 6.6%/ 14.5% respectively, in line with industry cycle performance, mainly due to cost pressures from delayed payments by local governments.

BOCI forecasted that CHINA RAIL CONS' 2025 revenue will recover by 3% YoY, and net profit will grow by 6.1% YoY, with rating kept at Buy. Considering the uncertainties in sales management expenses and financial cost trends, the broker, based on a more conservative 2025 projected PE ratio of about 4x, cut its target price from $7.75 to $6.69.
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