大行评级丨里昂：长江基建集团连续29年增加派息，维持“跑赢大市”评级

Group 1 - The core viewpoint of the report is that China Longjiang Infrastructure Group is expected to achieve a net profit growth of 2% year-on-year to HKD 8.27 billion in 2025, which is stable and in line with market expectations [1] - The company has increased its dividend for 29 consecutive years, with an annual dividend of HKD 2.61, representing a year-on-year increase of 1.2%, and a payout ratio of 80%, resulting in a dividend yield of 4% [1] - The report suggests that China Longjiang Infrastructure provides a safe haven for investors amid current macroeconomic volatility, as the group holds ample cash after asset sales, maintains stable dividend distributions, and benefits from regulatory resets [1] Group 2 - The firm maintains an "outperform" rating for China Longjiang Infrastructure, with a target price set at HKD 63 [1]