研报掘金丨中金：上调滔博目标价至4.17港元 续予“跑赢行业”评级

Core Viewpoint - The report from CICC indicates that TBO's performance for the first half of the 2026 fiscal year met expectations, with a year-on-year revenue decline of 6% and a net profit decrease of 10% [1] Financial Performance - TBO's revenue decreased by 6% year-on-year [1] - Net profit fell by 10% [1] - The company declared an interim dividend of 0.13 HKD, with a payout ratio of approximately 102% [1] Earnings Forecast - CICC maintains its earnings per share estimates for TBO at 0.21 HKD for the 2026 fiscal year and 0.26 HKD for the 2027 fiscal year [1] Rating and Target Price - CICC continues to rate TBO as "outperforming the industry" [1] - The target price for TBO has been raised by 23% to 4.17 HKD [1]