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<Research> Huatai Securities Raises CHINA COMM CONS (01800.HK) H-Share TP to HKD5.42 as Overseas New Contracts Sustain Strong Momentum
Recommend 6 Positive 14 Negative 3 |
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Huatai Securities released a report stating that CHINA COMM CONS (01800.HK) recorded revenue of RMB155.946 billion in 1Q26, up 0.84% YoY and down 28.2% QoQ. Net profit amounted to RMB4.103 billion, down 24.95% YoY and up 271.55% QoQ, while net profit after non-recurring items was RMB4.113 billion, down 24.38% YoY. The value of newly signed contracts in 1Q26 rose 0.58% YoY, of which overseas contracts increased 25.9% YoY, sustaining strong momentum and effectively offsetting the decline in domestic operations. The broker maintained its Buy rating on both A and H shares. The broker said it maintained its net profit forecasts for 2026 to 2028 at RMB15.5 billion, RMB15.9 billion and RMB16.2 billion, respectively. Comparable A/H-share companies are trading at 2026 consensus averages of 5.7x and 4.1x price-to-earnings, respectively. Considering the companys relatively stronger overseas business outlook, higher overseas revenue contribution and resilient growth in new orders, Huatai Securities maintained target 2026 price-to-earnings multiples of 9x for A shares and 5x for H shares. It kept the A-share TP at RMB8.55 and raised the H-share TP to HKD5.42 from HKD5.39, factoring in exchange rate fluctuations. (ha/w) Auto-translated by AI This article was automatically translated by AI, the original language 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. More Details
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