Core Viewpoint - The report from CICC indicates that Sands China achieved a net revenue of $2.058 billion in Q4 last year, representing a year-on-year increase of 16% and a quarter-on-quarter increase of 8%, recovering to 92% of the same period in 2019 [1] Financial Performance - Adjusted property EBITDA was $608 million, up 6% year-on-year and 1% quarter-on-quarter, recovering to 75% of the same period in 2019, but falling short of market expectations of $632 million due to increased costs from marketing rebate programs and daily operating expenses [1] Industry Outlook - The high-end segment is expected to continue leading industry growth, with a competitive marketing rebate environment likely to persist [1] - The company is anticipated to increase its dividend payouts, maintaining a "outperform" rating for the stock with a target price of HKD 23.8 [1]
研报掘金｜中金：维持金沙中国“跑赢行业”评级，公司派息有望提升
Ge Long Hui·2026-01-30 04:01