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<Research> Huatai Securities Raises MCC (01618.HK) TP to HKD1.92 as Net Profit Reverses Downtrend
Huatai Securities issued a report stating that MCC (01618.HK) recorded 1Q revenue of RMB92.204 billion, down 24.59% YoY and down 23.35% QoQ. Net profit reached RMB1.633 billion, up...
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<Research> Huatai Securities Raises MCC (01618.HK) TP to HKD1.92 as Net Profit Reverses Downtrend
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Huatai Securities issued a report stating that MCC (01618.HK)  +0.020 (+1.351%)    Short selling $2.39M; Ratio 17.705%   recorded 1Q revenue of RMB92.204 billion, down 24.59% YoY and down 23.35% QoQ. Net profit reached RMB1.633 billion, up 1.59% YoY and up 161.65% QoQ, while net profit after non-recurring items was RMB1.491 billion, down 7.19% YoY.
Considering the companys divestment of non-core business assets and the weakening drag from its property segment, MCC is expected to operate with a lighter asset base going forward. Net profit in 1Q has already reversed its previous downtrend and resumed growth. The broker maintained an Overweight rating on MCC (601618.SH)  +0.040 (+1.434%)   A-shares and a Buy rating on its H-shares.

The broker maintained its net profit forecasts for 2026 to 2028 at RMB5.9 billion, RMB5.9 billion and RMB6.3 billion, respectively. Given sufficient impairment provisions and reduced disturbances following the divestment of its property business, Huatai Securities maintained its valuation at 12x 2026 PE for A-shares and 6x for H-shares. The corresponding TP for MCC A-shares and H-shares are RMB3.36 and HKD1.92, respectively, compared with previous TPs of RMB3.36 and HKD1.9. (ha/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-29 16:25.) (A Shares quote is delayed for at least 15 mins.)

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