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<Research>BofAS Lowers ABC's TP to HKD5.8; 2025 Earnings Slightly Miss
Recommend 7 Positive 10 Negative 9 |
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According to a report from BofA Securities, ABC (01288.HK) recorded a growth of 3.2% YoY in last year's net profit to RMB291 billion, 0.9% below the broker's expectations. ABC's core earnings also edged down by 0.1% YoY, 1.8% below expectations. The return on equity fell by 0.3 ppts to 10.2%, and the core Tier 1 capital adequacy ratio decreased by 35 bps to 11.08%. The dividend payout ratio remained largely stable, with dividends per share increasing by 3.1% YoY to RMB0.2495. The dividend yields for ABC's H-shares and A-shares were 5.2% and 3.8%, relatively low among industry peers. BofA Securities has cut its target price for ABC from HKD6.32 to HKD5.8, but it has kept the Neutral rating unchanged. 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. Auto-translated by AI AASTOCKS Financial News |
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