ZHONGAN(6060.HK):HK STABLECOINS OUTLOOK OPENS UP THE HEADROOM FOR VALUATION RE-RATING; UPLIFT TP TO HK$20.4
Ge Long Hui·2025-06-04 10:38
Valuation. The stock is trading at 1.3x FY25E P/B, at 26% premium (or 0.7std)above its 3yr historical average. Despite the surge of stablecoin momentum,current valuation of the stock still ranks at 10% of historical P/B(x) from listing. 机构:招银国际 研究员:Nika MA ZhongAn's share price surged 55% in the week of 26 May, propelled by aresurgence of sentiment spurred by the passage of the Stablecoins Bill by the HKLegCo on 21 May, and the GENIUS Act advancement to the US Senate on 20 May. Despite the surge was to some ...