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| HSI1 | 22,881.02 | -145.66 | 308.05B |
| HSCEI1 | 7,558.30 | -47.04 | 109.39B |
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2026-06-30 16:04:10 BOCOM International issued a report stating that, on the basis of CITIC SEC (06030.HK)'s attributable net profit of RMB30.076 billion in 2025, up 38.6% YoY, the company continued to maintain strong profit growth in 1Q26, with quarterly profit exceeding RMB10 billion for the first time. Revenue from all business segments achieved relatively fast YoY growth, among which revenue from securities brokerage, investment banking, asset management and investment businesses rose 48%, 24%, 37% and 25% YoY respectively. Fair value changes drove investment income up 32% YoY, while net interest income increased to RMB1.1 billion. Management believes that, as the benefits from ongoing capital market reforms continue to be released, the company's leading advantages in scale, full licensing and full business chain will become more prominent, and it remains optimistic about the resilience and sustainability of earnings growth. The broker updated its earnings outlook and expected the company's leading position to remain solid over the next three years, with attributable net profit reaching RMB37.5 billion, RMB40.5 billion and RMB44 billion respectively. Since 2026, the company's share price has rebounded from its trough and has now returned to positive territory compared with the beginning of the year. Overall, the company has outperformed peers across various business segments under the current market environment, and its valuation has potential for further upward re-rating. BOCOM International updated its forecasts for 2026 to 2028, projecting net profit of RMB37.5 billion, RMB40.5 billion and RMB44 billion respectively. It raised the TP for CITIC SEC (06030.HK) H shares to HKD32, corresponding to a target price-to-book ratio of 1.36x for 2026, while maintaining a Buy rating.(ad/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |