BOCI Securities Limited: Lowers target price of China Construction Bank (00939.HK) to HK$8.92 and maintains "Buy" rating.

According to the Wise Finance APP, Bank of China International released a research report stating that the first quarter profit of China Construction Bank (00939.HK) declined. Net profit decreased by 4% year-on-year, while full-year net profit for 2024 increased by 0.9% year-on-year. Due to narrowing net interest margin, China Construction Bank's net interest income in the first quarter of 2025 declined by 5.2% year-on-year, with some improvement in asset quality during the quarter. The bank pointed out that the current valuation of China Construction Bank is cheap. The target price was lowered to 8.92 Hong Kong dollars, and the "buy" rating was maintained.