智通财经网·2025-11-04 02:36Core Viewpoint - Postal Savings Bank of China (01658) maintains positive profit growth outlook for Q3 2025, with a year-on-year net profit increase of 1.2% in Q3, slowing from 4.8% in Q2 [1] Group 1: Financial Performance - The net profit attributable to shareholders for Q3 2025 increased by 1.2% year-on-year, showing a deceleration compared to the 4.8% growth in Q2 2025 [1] - The bank's asset quality remains excellent, with net interest margins at 1.68% as of September 2025, down from 1.7% at the end of June 2025, and a decrease of 19 basis points and 17 basis points compared to the end of 2024 respectively [1] Group 2: Valuation and Recommendations - CICC has raised the target price for Postal Savings Bank's H-shares from HKD 6.35 to HKD 6.84, which corresponds to a forecasted price-to-book ratio of 0.7 times for this year, indicating attractive valuation [1] - The bank's asset quality is described as robust, and the recommendation remains a "Buy" rating [1]