Group 1 - UBS forecasts Far East Horizon (03360) to achieve an 8% growth in profit and a 6% increase in earnings per share this year [1] - The target price for the stock has been raised from HKD 8.8 to HKD 9.1, with a projected price-to-book ratio of 0.72 times and a forecasted dividend yield of 6.5% [1] - The investment rating for the stock is "Buy" [1] Group 2 - Management expects the core financial leasing business to remain stable, prioritizing financial stability over growth [1] - A progressive dividend policy will be adopted, although specific payout ratio targets have not been determined [1] - The outlook for the core business is optimistic, with expectations of profit growth returning to high single digits, supported by moderate loan growth and a decrease in financing costs [1] Group 3 - The increase in asset return rates is driven by the improved contribution from small and medium enterprises and the low base effect from the subsidiary Hongxin Jianfa (09930) [1] - There is potential for the currently high effective tax rate of 50% to return to a more normal level [1]
瑞银：上调对远东宏信(03360)目标价至9.1港元 评级“买入”