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<Research>JPM: HANG LUNG PPT (00101.HK) CEO Retirement Expected to Have Limited Impact; Shr Price Drop Good Entry Point
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HANG LUNG GROUP (00010.HK) and HANG LUNG PPT (00101.HK) jointly announced yesterday (18th) that Weber Lo will retire on or before 31 August 2026, and will no longer serve as the Group's CEO and Executive Director. JPMorgan issued a research report saying that it currently believed that this has minimal impact on HANG LUNG PPT's operations because major decisions, such as strategy and dividend, are still made by the family; HANG LUNG PPT does not have any major initiatives or strategic shifts that rely on Lo for execution. JPMorgan added that, after the announcement, HANG LUNG PPT's share price sagged by 2.9%, but the broker considered this as a good entry point as the CEO's retirement does not change its Overweight view on HANG LUNG PPT, with a target price of $10. AASTOCKS Financial News Website: www.aastocks.com |
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