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2025-03-07 16:16:42 The Chinese government is devoted to containing tail risks and boosting market sentiment, CCBI released a report as saying. The broker held a positive view on the stock prices of Chinese banks for FY2025, citing stable operational performance that supported a dividend yield of 6.1% for H-share Chinese banks in the last fiscal year. The broker noted that PING AN BANK (000001.SZ) will kick off FY2024 results announcement on March 14. Among the banks under CCBI’s coverage, the broker expected ABC (01288.HK) to be the fastest-growing Chinese bank, with a YoY hike of 4%. The broker forecast that Chinese banks’ net profits rose by 2% YoY last year. It estimated net profit growth for ICBC (01398.HK), ABC, BANKCOMM (03328.HK), PSBC (01658.HK), CM BANK (03968.HK), and CITIC BANK (00998.HK) at 1%, 4%, 2%, 2%, 1%, and 2% YoY, respectively. PPOP was projected to fade 4% for ICBC, rise 3% for ABC, fall 1% for BANKCOMM and PSBC, remained flat for CMB, and hike 3% for CITIC BANK, with the sector’s PPOP expected to drop by 1% YoY. The broker highlighted that the market is watchful of the re-rating of Chinese banks and the quality of earnings under pressure. The broker expressed a stronger preference for high-quality banks, particularly CMB H-shares, due to their robust and sustainable profitability, and CITIC BANK H-shares, due to their compelling dividend yield. Both received an Outperform rating from CCBI, with target prices set at HKD52 and HKD6.5, respectively. ~ AAStocks Financial News Web Site: www.aastocks.com | |