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UBS Cuts CGS (06881.HK) TP to HKD9.4; 1Q Results In Line
UBS published a report stating that CGS (06881.HK)'s 1Q results were in line with expectations. Operating revenue and recurring net profit after tax amounted to RMB7.4 billion and ...
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UBS Cuts CGS (06881.HK) TP to HKD9.4; 1Q Results In Line
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UBS published a report stating that CGS (06881.HK)  +0.030 (+0.387%)    Short selling $25.43M; Ratio 10.321%   's 1Q results were in line with expectations. Operating revenue and recurring net profit after tax amounted to RMB7.4 billion and RMB3.3 billion respectively, representing YoY growth of 16% and 10%. The results met market expectations but underperformed listed peers. Wind data showed that recurring net profit after tax of listed brokerages rose 39% YoY in 1Q.

By segment, the YoY improvement in brokerage business and interest income was partly offset by YoY declines in investment banking, asset management and proprietary trading businesses.

The bank noted that due to FY2025 results missing expectations and 1Q2026 results meeting expectations, it lowered its EPS forecasts for 2026 to 2028 by 6% to 18%, and cut the TP from HKD11.6 to HKD9.4, with rating at Neutral. (ha/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-29 16:25.)

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