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<Research>CICC Raises BANK OF E ASIA (00023.HK) TP to $18.03, Keeps Neutral Rating
BANK OF E ASIA (00023.HK)'s 2025 results were below expectations, CICC published a research report saying. Its operating income was $21 billion, up 0.2% YoY, while net profit a...
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<Research>CICC Raises BANK OF E ASIA (00023.HK) TP to $18.03, Keeps Neutral Rating
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BANK OF E ASIA (00023.HK)  +0.060 (+0.447%)    Short selling $1.45M; Ratio 63.710%   's 2025 results were below expectations, CICC published a research report saying. Its operating income was $21 billion, up 0.2% YoY, while net profit amounted to $3.2 billion, down 20.1% YoY.

The Company's results missed expectations primarily due to one-off factors affecting its Chinese joint ventures and the impairment of its owned property in Hong Kong. Excluding the above factors, the Company's profit before tax declined by 5.6% YoY.

CICC believed that the Company's new strategic direction is clear, leading to a reduction in credit cost assumptions and an increase in non-interest income assumptions.

The broker raised its 2026/ 2027 net profit forecasts by 42.5%/ 49% to $5 billion/ $5.7 billion, and lifted its 2026/ 2027 operating income forecasts by 6.3%/ 7% to $21.2 billion/ $21.9 billion, respectively. Therefore, CICC raised its target price by 28% to $18.03, with rating kept at Neutral.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)

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