中国大宗商品：数据更新；刷新盈利预期，主要反映市价变动-China Commodities_ Data update; refreshing earnings estimates, mainly to reflect mark to market price changes
2025-12-01 00:49

Joy Zhang 28 November 2025 | 12:31PM HKT Equity Research CHINA COMMODITIES Data update; refreshing earnings estimates, mainly to reflect mark to market price changes We refresh our earnings estimates for our China commodities coverage, mainly to reflect mark to market price changes in the 3Q25 and quarter to date. Our target prices changes are -5% to +5%, and our investment ratings are unchanged. We do not view these changes as material, and there is no change to our investment thesis. Key points in our est ...