Guosen Securities: Initiates Neutral Rating for CITIC Financial Assets (02799.HK) with a Fair Stock Price Range of 1.16-1.28 Hong Kong dollars

According to the Securities Times app, Guosen Securities released a research report stating that they have initiated coverage on Zhongxin Financial Assets (02799.HK) for the first time, giving it a "Neutral" rating. They project that the company's net profit attributable to ordinary shareholders will be 10.4/10.9/11.0 billion yuan from 2025 to 2027, with year-on-year growth of 8.5%/4.1%/1.1%. EPS is expected to be 0.13/0.14/0.14 yuan respectively, corresponding to PE ratios of 7.6/7.3/7.3 times, and PB ratios of 1.70/1.38/1.16 times. Based on both absolute and relative valuations, they believe that the company's reasonable stock price range is 1.16-1.28 Hong Kong dollars.