Core Viewpoint - Conch Venture (00586) shares rose over 6%, currently up 6.67% at HKD 10.88, with a trading volume of HKD 123 million, following a report from Citigroup highlighting management's plans to enhance profitability by RMB 1 billion annually over the next two to three years through various operational improvements [1][1][1] Financial Performance - In the first half of the year, Conch Venture reported revenue of RMB 3.086 billion, a year-on-year decrease of 1.55%, while net profit attributable to shareholders was RMB 1.286 billion, reflecting a year-on-year increase of 9.33% [1][1][1] - The company's performance benefited significantly from the increased profitability of its associate, Conch Cement (600585). Excluding this contribution, the core net profit for the first half was RMB 446 million, a year-on-year decrease of 6% [1][1][1] Dividend and Future Outlook - Conch Venture declared its first interim dividend of HKD 0.1 per share, resulting in a payout ratio of only 12%. The forecasted yield for the company is expected to reach 5.1% this year, increasing to between 6.5% and 8.4% from 2026 to 2027 [1][1][1] - Citigroup raised its target price for the stock from HKD 10.1 to HKD 12, maintaining a "Buy" rating based on anticipated improvements in cash flow and reduced debt pressure [1][1][1]
海螺创业涨超6% 投资收益带动上半年利润增长 花旗料公司股息有上行空间