Guotai Junan Securities: Initiate coverage of Connoa-B (02162.HK) with a buy rating, target price of HK$138.91.

According to the Zhifeng Financial APP, Guotai Sea-Link Securities released a research report stating that using the DCF absolute valuation method to evaluate, they gave a target price of HK$120.85 for Kangnoah-B(02162.HK), converted to RMB 0.87 yuan according to 1 Hong Kong dollar, equivalent to 138.91 Hong Kong dollars, and initiated coverage for the first time with a buy rating on the company. The bank predicts that the company's revenue for 2026-2028 will be 3.09, 2.16, and 3.08 billion yuan respectively. The substantial increase in revenue in 2026 is mainly due to Kangnoah as a shareholder of Ouro receiving a down payment of 257 million dollars. The forecasted net profit attributable to the parent company for 2026-2028 is 1.105, -0.63, and 0.364 billion yuan respectively.