GMT EIGHT - Research - HK Stock

Yamato: POWER ASSETS (00006) first half performance in line with expectations, maintains "outperform" rating, target price raised to 57.8 Hong Kong dollars.

In 2024, it was a year of strong contrast for UKPN (UK Power Networks) and Daiwa Securities estimated that it was the biggest contributor to the business profit in the energy industry in the UK.

CMBC International: Encouraged by FIT HON TENG's second quarter business transformation accelerating, raises target price to 4.96 Hong Kong dollars.

Based on the accelerated production of cloud and artificial intelligence servers and AirPods, the bank holds a positive view on the company's 3+3 strategy performance in the next year and in 2027.

CMBC International: 361 Degrees (01361) target price raised to HK$7.09, "Buy" rating.

China Merchants International Bank has lowered the company's net profit forecast for the fiscal years 2025 to 2027 by 3%, 5%, and 6% respectively, to reflect the slowing growth in offline sales, slower store expansion, and weaker control over operating expenses.

Yamada: Raises NEXTEER (01316) target price to 7 Hong Kong dollars, reiterates outperform rating.

The company expects that the total orders for this year will reach 5 billion US dollars, with 1.5 billion US dollars in orders already received in the first half of the year, and an expected additional 3.5 billion US dollars in orders in the second half of the year.

JP Morgan: CKH Holdings (00001) port transaction progressing smoothly, maintains "buy" rating.

HSBC pointed out that the current stock price already reflects market expectations for the approval of the port transaction.

UBS: Raises KERRY PPT (00683) target price to 24 Hong Kong dollars, maintains "buy" rating.

The bank believes that the development of China's private real estate investment trust fund market can provide new avenues for fund recovery for Hong Kong developers such as Kerry Properties.

JP Morgan: The rise of AI and DeepSeek boosts the potential of the three major telecommunications companies. China Telecom Corporation (00728) is the preferred choice.

The line indicates that although the three major operators have been given a "buy" rating on their A-shares, they prefer H-shares more because the trading price of H-shares is discounted by 29 to 35% compared to A-shares.

Lyon: Analyst raises target price of HYSAN DEV (00014) to 18.3 Hong Kong dollars, maintains "outperform" rating.

The bank believes that due to the redevelopment of Lee Garden, the performance of Lee Garden Retail Combination owned by Henderson Land will outperform the overall market in Hong Kong, which is expected to continue driving profit growth in the next two years.

JP Morgan: LINK REIT (00823) first-quarter operating data slightly below expectations, maintains "neutral" rating.

The bank stated that Link REIT's business is trending towards stability, but the possibility of a significant recovery in the short term is low due to intensified competition from cross-border e-commerce.

UBS: SWIRE PROPERTIES (01972) could increase its valuation if it sets up a property trust fund, target price raised to HK$26.1.

The bank believes that asset recycling will provide greater development space for new projects such as Shenzhen Futian and Hong Kong Admiralty.

UBS: Raises Hang Lung Properties (00101) target price to HK$9.6. Potential asset spin-offs could unlock value.

The stock's P/B is only 0.29 times, and any asset divestment will help reduce its per share Net Asset Value (NAV) discount.

BOCOM INTL: Upgrades CHINA LIT (00772) to "buy" rating, target price raised to 39 Hong Kong dollars.

The company expects to maintain stable annual revenue for its online business, with a projected 4% year-on-year increase in revenue from the core IP operation of Yuewen in the copyright operation business, benefiting from the expansion of the IP derivative product category.

UBS: China Resources Land (01109) rated as top pick in the industry, target price raised to HK$42.

The company believes that the market significantly undervalues its value and looks forward to establishing private real estate investment trusts (REITs) with fewer restrictions on fund uses, which will help developers accelerate capital circulation.

UBS: Raises China Telecom Corporation (00728) target price to HK$7.4, rating "Buy"

The management expects that traditional telecommunications revenue will maintain steady growth, while ARPU values will remain stable with the support of value-added services and upgrades in artificial intelligence.

CMSC: Raises TENCENT (00700) target price to 700 Hong Kong dollars, maintains "buy" rating.

The bank believes that the expected commercialization of AI agents, advertising, AI products, and profit expansion driven by AI will bring potential revenue and valuation opportunities for Tencent.

CICC International: Raises TENCENT (00700) target price to HKD 717, reiterates "outperform" rating.

This line indicates greater confidence in Tencent's ability to deploy artificial intelligence across all business lines, leveraging its unique and yet to be fully monetized WeChat ecosystem to drive sustainable profit growth.

CMB International: Gives GEEKPLUS-W (02590) a target price of 26.7 Hong Kong dollars and a "buy" rating for the first time.

As the first warehousing AMR company in the Hong Kong stock market, the bank believes that Jigsheng Intelligent has unique value.

CICC: Maintains NEXTEER (01316) Outperform Rating, Raises Target Price to HK$8.4

1H25 Company received a new order of $1.5 billion, and the company maintains its annual target of $5 billion in orders.

CICC: Maintains SAMSONITE (01910) outperform rating with a target price of HK$20.

Affected by U.S. tariffs, the firm expects the company's gross profit margin to be between 59-59.5% in 2025, but the company is taking corresponding measures to offset this impact.

CICC: Maintains outperform rating on VALUE PARTNERS (00806) and raises target price to HKD 3.0

The company continues to expand its presence in the Southeast Asian market, widening its coverage. The company is strengthening its collaboration with digital banks like WeLab Bank, bringing in substantial capital inflow.

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