Core Viewpoint - CICC reports that Everbright Environment (00257) experienced an 8% year-on-year decline in revenue and a 10% drop in net profit for the first half of the year, while increasing its dividend by 7% to HKD 0.15, with a payout ratio of 42% [1] Financial Performance - Revenue decreased by 8% year-on-year [1] - Net profit fell by 10% [1] - Dividend increased by 7% to HKD 0.15 [1] - Payout ratio reached 42% [1] Future Outlook - CICC expects stable capital expenditure for Everbright Environment in the next two years [1] - Anticipated increase in overseas capital expenditure proportion due to expansion of waste incineration projects in Central Asia and Southeast Asia [1] Earnings Forecast - CICC maintains its profit forecast for the group despite the mid-term profit decline [1] - Free cash flow remains robust, leading to an upward revision of the dividend forecast to HKD 0.25 for the year, a 10% increase year-on-year [1] - Target price raised by 8% to HKD 5.2 [1]
中金：升光大环境目标价至5.2港元 上调股息预测