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<Research>BofAS Cuts TP for TONGCHENGTRAVEL to HKD20, Reiterates Buy Rating
BofA Securities released a report predicting that TONGCHENGTRAVEL (00780.HK)'s 2Q results will meet or reach the high end of street consensus. The broker anticipated that the c...
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<Research>BofAS Cuts TP for TONGCHENGTRAVEL to HKD20, Reiterates Buy Rating
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BofA Securities released a report predicting that TONGCHENGTRAVEL (00780.HK)  +0.340 (+1.736%)    Short selling $25.69M; Ratio 7.967%   's 2Q results will meet or reach the high end of street consensus. The broker anticipated that the company will announce its 2Q by the end of August.

Total revenue was estimated to grow 10% YoY to RMB4.7 billion, with non-GAAP operating profit at RMB843 million, up 28% YoY, and non-GAAP net profit expected at RMB754 million, up 15% YoY, slightly above street consensus.

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Despite escalated competition from JD, TONGCHENGTRAVEL's trend of improved hotel commission rates and OTA margins in 2Q remains intact, the broker said, reiterating a Buy rating, with the target price lowered from HKD23 to HKD20.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-02 16:25.)

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