CICC: Maintains Outperform rating for Everbright Services (01995.HK), lowers target price to HK$2.33.

According to the Zhitong Finance APP, Zhongjin has released a research report stating that based on the adjustment of Eternal Asia Service's (01995.HK) segmented business structure and gross profit margin, its profit forecasts for 2025 and 2026 have been respectively lowered by 16% and 15% to 420 million and 440 million yuan (a year-on-year decrease of 12% and an increase of 5%). It maintains an outperform industry rating, but lowers the target price by 7% to 2.33 Hong Kong dollars (corresponding to a target price-earnings ratio of 8.7 times in 2025 and an expected dividend yield of 8.0%, implying a 12% upside potential), mainly reflecting the profit forecast adjustment and potential dividend yield support. The company is currently trading at a price-to-earnings ratio of 7.8 times in 2025 and an expected dividend yield of 9.0% (based on a regular dividend payout ratio of 50% and a special dividend payout ratio of 20%).