BofA: Cuts the target price for Shenzhou International (02313.HK) by 6% and lowers the earnings per share forecasts for this year and next by 12% and 8%, respectively.

According to the Zhitong Finance APP, Bank of America has released a research report stating that Shenzhou International (02313.HK) issued a profit warning last Friday, expecting a 38-43% decline in profit for the first half of the year. This is primarily due to the appreciation of the Renminbi, rising raw material, labor, and pension costs, as well as a slight decrease in sales. The target price for Shenzhou International has been lowered by 6% to HKD 50, and the investment rating remains "Buy."