FY23 results beat helped by better 4Q

M N 18 Mar 2024 CMB International Global Markets | Equity Research | Company Update Shennan Circuit (002916 CH) FY23 results beat helped by better 4Q Q Shennan Circuit released its FY23 earnings, with revenue down 3.3% YoY to Target Price RMB79.00 RMB13.5bn (5%/2% higher than our forecast/consensus) and net profit down (Previous TP RMB72.00) 14.8% YoY to RMB1.4bn (11%/5% higher than our forecast/consensus). The Up/Downside -11.2% Company beat estimates thanks to a stronger-than-expected 4Q. The Current Pric ...