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Real-time News
Hong Kong-listed domestic real estate and property management stocks rose in the afternoon, with China Resources Vanguard Life (01209.HK) up nearly 8%, New Town Joy Service (01755.HK) up more than 5%, Yongsheng Service (01995.HK), Binjiang Service (03316.HK), China Overseas Property (02669.HK), Greentown Service (02869.HK), and KWG Living (03913.HK) all up more than 3%.Iran set the price of Iranian Light crude oil sold to Asia in March at a premium of $4.35 per barrel over the Oman/Dubai average price.According to a report by CICC on February 24, Bilibili (09626.HK)s revenue in the fourth quarter of last year increased by 22% year-on-year to RMB 7.73 billion, in line with expectations, and non-GAAP net profit was RMB 453 million, slightly higher than expected, mainly due to higher-than-expected other income. The bank maintains its forecast for the companys non-GAAP net profit for this year and next year. Taking into account the increase in the industrys average valuation and the companys improved earnings, it raises the Hong Kong stock target price by 16.7% to HK$203 and the US stock target price by 16.1% to US$26, maintaining its outperform rating.On February 24, Goldman Sachs research report pointed out that Ideal Auto (02015.HK) delivered 159,000 new energy passenger vehicles in the fourth quarter of last year, a year-on-year increase of 20% and a quarter-on-quarter increase of 4%. However, due to the lack of new models, the companys market share in the mainlands new energy vehicle retail market has dropped from 5% in the third quarter of 2024 to 4.1%. The bank expects the companys total revenue in the fourth quarter to be RMB 44 billion, a year-on-year increase of 5% and a quarter-on-quarter increase of 2%. Among them, automobile revenue will increase by 4% year-on-year to RMB 42 billion; the average selling price will fall by 13% year-on-year to RMB 266,000. At the same time, the total gross profit during the period is expected to be RMB 9.6 billion, a year-on-year decrease of 2%; the gross profit margin is 22%, a year-on-year decrease of 1.5 percentage points. The bank raised its net profit forecast for the company in 2024 by 10% due to better cost management, and lowered its net profit forecast for this year and next year by 4% to 6% due to lower sales and delivery volumes. The bank raised the companys H-share target price from HK$131 to HK$137 and maintained its buy rating.On February 24, Goldman Sachs published a report stating that NIO (09866.HK) delivered 73,000 new energy vehicles in the last quarter of last year, up 45% year-on-year and 18% quarter-on-quarter. The companys market share in new energy vehicles in the mainland shrank from 2% in the third quarter of last year to 1.9% in the last quarter. The bank expects NIOs revenue to increase by 17% year-on-year to RMB 20 billion. Due to the increase in the sales proportion of Ledao L60, the bank expects NIOs automotive business to have a lower gross profit margin in the last quarter; but due to economies of scale and cooperation with partners, the gross profit margin of the battery replacement business is expected to improve. The bank expects NIO to have an EBIT loss of RMB 6 billion in the last quarter; non-GAAP net loss is expected to be RMB 4.9 billion. To reflect the latest sales and pricing trends, the non-GAAP net profit forecasts for this year and next year are reduced by 2% and 1% respectively, and the valuation basis is extended for one year. The target price of Hong Kong stocks is raised from HK$27 to HK$30, and the rating is sold.
