Core Viewpoint - MGM China (02282) rebounded over 3%, indicating a potential overreaction in its recent stock price adjustment according to Goldman Sachs [1] Group 1: Stock Performance - MGM China's stock price increased by 3.02%, reaching HKD 12.61, with a trading volume of HKD 52.6374 million [1] - The stock had previously dropped approximately 19% following the announcement of additional royalty fees to the parent company [1] Group 2: Financial Impact - Goldman Sachs estimates that the additional royalty fees will impact EBITDA by about 6% to 7% [1] - The earnings forecast for MGM China has been revised down by approximately 13% to 14% [1] Group 3: Dividend and Valuation - If the company maintains a dividend payout ratio of around 50%, it may lead to a reduction in the per-share dividend [1] - MGM China's valuation has decreased to a projected price-to-earnings ratio of about 8 times for the fiscal year 2026, compared to the industry average of 11 to 12 times [1] - Goldman Sachs maintains a "Buy" rating, suggesting that the current price level is attractive, with a target price set at HKD 18.4 [1]