Huatai Securities: Maintains a "buy" rating on China Hongqiao (01378.HK), company performance may remain at a high level.

According to the Securities Times APP, Huatai Securities released a research report stating that it maintains a "buy" rating for China Hongqiao (01378.HK) and raised the net profit attributable to shareholders for the years 2025-2027 by 34.3%, 17.68%, and 2.95% to 21.659 billion yuan, 20.889 billion yuan, and 21.912 billion yuan, corresponding to EPS of 2.29, 2.20, and 2.31 yuan. Considering the company's significant increase in dividend payout ratio in 2024, the company's high dividend sustainability is strong. In the current low interest rate environment, the market may have lower requirements for dividend yields. At the same time, the company plans to carry out a share buyback of not less than 3 billion Hong Kong dollars. The bank gives the company a 10 times PE valuation for 2025 (previous value of 8.5X PE), based on the Hong Kong dollar to Renminbi exchange rate of 0.92 on August 17, 2025, and raised the target price to 24.89 Hong Kong dollars (previously 15.37 Hong Kong dollars).