Ge Long Hui·2025-10-30 06:50Core Viewpoint - HSBC Holdings reported better-than-expected third-quarter performance, with adjusted revenue of $17.9 billion, a year-on-year increase of 4% [1] - The net profit attributable to ordinary shareholders increased by 1% year-on-year to $6.2 billion, surpassing both the bank's and market expectations, primarily due to higher net interest income and wealth management revenue [1] Revenue and Profit Forecasts - The company has revised down its full-year revenue forecast by 1.3% to $67.2 billion, and the net profit forecast for ordinary shareholders has been reduced by 3.7% to $21.1 billion, considering the slowdown in non-interest income growth [1] - However, due to the resilience in net interest margin, the revenue forecast for next year has been increased by 4% to $71.7 billion, and the net profit forecast for ordinary shareholders has been raised by 11.2% to $27.1 billion [1] Target Price and Rating - The target price for HSBC Holdings remains unchanged at HKD 111.9, with a rating of "outperform" [1]