Group 1 - The core viewpoint of the report indicates that Far East Horizon's management expects stable operations in its core financial leasing business, prioritizing financial stability over growth [1] - The management reiterated a gradual dividend policy without specifying a target payout ratio, indicating a cautious approach to shareholder returns [1] - UBS maintains an optimistic outlook on Far East Horizon's core business prospects, forecasting a rebound in profit growth to high single digits this year, driven by moderate loan growth and a decrease in financing costs [1] Group 2 - The forecast includes an expected increase in profit and earnings per share by 8% and 6% respectively for this year [1] - The target price for Far East Horizon has been raised from HKD 8.8 to HKD 9.1, with a "Buy" rating assigned [1] - Factors contributing to the anticipated growth include the recovery of non-SME loan spreads, increased contributions from SMEs, and a low base effect from the subsidiary Hongxin Jianfa [1]
大行评级丨瑞银：对远东宏信核心业务前景持乐观态度，目标价上调至9.1港元