Citigroup: Lowering target price of CHINA OVS PPT (02669) to 5.2 Hong Kong dollars, maintaining "buy" rating.

11:37 27/03/2026

The company's goal is to rank among the top three in sectors such as schools, hospitals, and urban spaces, and plans to increase market share in the core 40 cities to achieve efficiency upgrades driven by density.

Citi Research report stated that CHINA OVS PPT's business portfolio reshaping is expected to achieve a stable profit margin between 2026 and 2028, supporting the bank's forecast of approximately 5% compound annual profit growth. Due to the company's strong cash generation ability and an unexpected increase in dividend payout ratio by 6 percentage points to 42%, the "buy" rating is maintained. The target price is lowered from HK$6.65 to HK$5.2. The bank stated that CHINA OVS PPT's "1345" strategy under the "Five-Year Plan" focuses on comprehensive improvement from internal operations to external expansion, to promote sustainable long-term growth and value creation. The company aims to deepen its presence in key sectors and strategic cities, aiming to rank among the top three in sectors such as schools, hospitals, and urban spaces, and plans to increase market share in the core 40 cities to achieve efficiency improvement driven by density.

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SWANGCHAICHUAN (02321) announced its annual performance, with a net profit of 33.238 million ringgit, an increase of 18.44% year-on-year.

SUNWAY INT'L (00058) announces annual financial results, with a net loss attributable to shareholders of HK$40.208 million, a decrease of 28.36% year-on-year.