Core Viewpoint - Morgan Stanley has downgraded the earnings forecast for Bairong Cloud (06608.HK) for the next two years, reflecting concerns over short-term revenue uncertainties and the impact of AI investments on profitability [1] Group 1: Earnings Forecast - The earnings per share (EPS) estimates for Bairong Cloud have been revised down from RMB 0.84 and RMB 0.97 to RMB 0.58 and RMB 0.63 for the years 2023 and 2024 respectively [1] - The target price has been reduced from HKD 13 to HKD 11.5, and the rating has been downgraded to "in line with the market" [1] Group 2: Performance and Challenges - Despite a strong performance in the first half of the year, Bairong Cloud is expected to face several short-term challenges in the second half [1] - Challenges include reduced telephone line bandwidth due to anti-fraud policy focus, temporary impact on AI voice GPT demand, and the influence of stricter enforcement on consumer loan interest rate caps [1] - Ongoing effects from fee reductions and the gradual exit of high-yield insurance products are also anticipated to impact the company's performance [1] Group 3: Long-term Outlook - The company's commitment to investing in AI may pressure short-term profitability but is expected to enhance competitive strength in the long run [1]
百融云目标价被大摩降至11.5港元 降两年每股盈利预测