长和：料去年基本纯利同比升8%，予“增持”评级-20260228

Investment Rating - The report assigns a "Buy" rating to the company, 长和 (Cheung Kong Holdings) [1] Core Insights - The company is expected to announce its fiscal year 2025 results in mid-March, with a forecasted net profit of HKD 22.4 billion, representing an 8% year-on-year growth [1] - The annual dividend per share is projected to be HKD 2.26, reflecting a 3% increase year-on-year, with an implied dividend yield of 3.6% [1] - The current price of the company corresponds to a forecasted price-to-earnings ratio of 11 times and a price-to-book ratio of 0.44 times for 2025 [1] - The target price set by the report is HKD 61 [1]