Group 1 - The core viewpoint of the report is that Conch Venture (00586.HK) reported a 9% year-on-year increase in net profit to 1.29 billion RMB in the first half of the year, primarily benefiting from the significant profit contribution from its associate company, Conch Cement [1] - Excluding this contribution, the core net profit for the first half decreased by 6% to 446 million RMB [1] - The company declared its first interim dividend of 0.1 HKD per share, resulting in a payout ratio of only 12% [1] Group 2 - Bank of America forecasts a revenue yield of 5.1% for the company this year, with an upward adjustment to 6.5% to 8.4% for 2026 to 2027 [1] - The target price for Conch Venture has been raised from 10.1 HKD to 12 HKD, maintaining a "Buy" rating [1] - As of August 28, 2025, Conch Venture's stock closed at 10.55 HKD, down 2.31%, with a trading volume of 16.23 million shares and a turnover of 170 million HKD [1] Group 3 - Conch Venture has a market capitalization of 19.354 billion HKD, ranking second in the environmental engineering and services industry [1] - Key performance indicators show a Return on Equity (ROE) of 4.43%, a net profit margin of 42.79%, and a debt ratio of 40.05% [1] - The company ranks 12th in ROE, 1st in net profit margin, and 14th in debt ratio compared to industry averages [1]
美银证券:升海螺创业(00586.HK)目标价至12港元 评级“买入”