智通财经网·2026-03-16 06:17Core Viewpoint - UBS reported that MTR Corporation (00066) announced its full-year results for the year ending December 2022, with a basic net profit of HKD 16.7 billion, a year-on-year decline of 4%, which met the bank's expectations. However, recurring EBITDA fell by 13% year-on-year, which was below the bank's forecast. The target price for MTR is set at HKD 24, with a "Sell" rating [1]. Group 1 - MTR's basic net profit for the year ending December 2022 was HKD 16.7 billion, down 4% year-on-year [1]. - Recurring EBITDA decreased by 13% year-on-year, which was lower than UBS's expectations [1]. - MTR's target price is set at HKD 24, and UBS has assigned a "Sell" rating [1]. Group 2 - MTR is currently planning the South Island Line (West) and the Pak Shek Kok Station, along with the second phase of the Northern Link, with capital expenditures expected to be disclosed in the second half of this year [1]. - MTR plans to launch tenders for the second phase of the Kam Sheung Road Station and the second phase of the Tuen Mun District 16 Station within the next 12 months [1]. - UBS believes that despite recent market recovery, the upward potential for land prices compared to the first phase (HKD 4,314 per square foot, including one-time payments and profit sharing) is limited [1].