Core Viewpoint - Citigroup's report indicates that Yuehai Investment has issued a profit warning, expecting a year-on-year net profit growth of 43% to HKD 4.493 billion, which is approximately 2% higher than market expectations, primarily due to lower-than-expected interest expenses [1] Group 1: Financial Performance - The group forecasts a dividend payout ratio of 6.3% by 2025, which is attractive and the highest among peers [1] - The net profit forecasts for Yuehai Investment for the next two years have been raised by 2.1% to 2.6%, based on profit growth and valuation rolling forward [1] Group 2: Investment Rating - The target price for Yuehai Investment has been increased from HKD 8 to HKD 8.8, with a reiterated "buy" rating, maintaining its position as the preferred choice among public utility stocks in Hong Kong [1]
大行评级｜花旗：上调粤海投资目标价至8.8港元，列为香港公用股首选