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<Research> UBS Lowers SF Holding (06936.HK) TP to HKD39, Maintains 'Neutral' Rating
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UBS published a research report indicating that SF Holding (06936.HK) recorded a net profit of RMB2.8 billion in the fourth quarter of last year, representing a year-on-year increase of 10%, which is 10 percentage points higher than market expectations. The company raised the upper limit of its A-share buyback plan from RMB3 billion to RMB6 billion, with this year's quota set at RMB4.5 billion, and simultaneously initiated a HKD500 million H-share buyback plan. If the buyback quota is fully utilized and assuming a dividend payout ratio of 40% is maintained, the total shareholder return for this year is expected to reach up to 80%, compared to 55% last year, equivalent to a dividend yield of approximately 5%. UBS slightly adjusted its earnings forecast for SF Holding, projecting a 10% revenue growth this year, with a reported net profit margin of 3.6% and a recurring net profit growth of 19%. The target price was lowered from HKD41.1 to HKD39, maintaining a 'Neutral' rating. (ec/w) 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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