Ge Long Hui·2025-10-23 02:49Core Viewpoint - The report from Credit Lyonnais indicates that Galaxy Entertainment is expected to face continued pressure on profit margins in the third quarter, with an adjusted EBITDA forecasted to grow by 10% year-on-year [1] Financial Performance - The adjusted EBITDA margin for the upcoming quarter is projected to be 26.1%, which represents a decrease of 1.5 percentage points compared to the same period last year [1] - Full-year forecasts for net revenue, adjusted EBITDA, and net profit have been revised downwards by 0.3%, 2.6%, and 4% respectively [1] Future Projections - The forecasts for 2026 and 2027 remain unchanged [1] - The target price for Galaxy Entertainment is maintained at HKD 50.5, with a rating of "outperform" [1] - Galaxy Entertainment continues to be listed as one of the top two preferred stocks in the industry [1]