HK Stock Market Move | BQD(03866) Rises by Over 4% After Performance Report, Annual Net Profit Attributable to Shareholders Increases by Over 20% Year-on-Year, Institutions Optimistic about Future Growth Potential.

BQD (03866) rose by more than 4% after its performance announcement. As of the time of writing, it has risen by 3.96% to HK$3.15 with a turnover of HK$77.563 million. On the news front, BQD released its 2024 interim report. In 2024, the bank achieved operating income of HK$13.498 billion, an increase of HK$1.025 billion compared to the previous year, representing a growth of 8.22%. Net profit attributable to the parent company's shareholders was HK$4.264 billion, an increase of HK$716 million compared to the previous year, representing a growth of 20.16%. By the end of 2024, BQD's non-performing loan ratio was 1.14%, a decrease of 0.04 percentage points from the previous year-end; the provision coverage ratio was 241.32%, an increase of 15.36 percentage points from the end of the previous year. Cinda previously pointed out that BQD's regional development potential is significant, with steady revenue growth and gradually recovering profitability. The national strategic opportunities empower the bank, leading to an expansion in its loan and deposit scale and improvement in asset quality. We believe that its future growth space is vast. Based on these assumptions, it is predicted that the growth rates of operating income for 2024-2026 will be 8.82%/8.78%/8.12% respectively, and the growth rates of net profit attributable to the parent company's shareholders will be 14.31%/13.55%/14% respectively.