On September 3, CHINA RES MIXC rose 3.07% in regular trading, trading at HK$40.24 per share, with turnover of HK$66.61 million.
On the news front, several international investment banks recently issued research reports with positive outlooks on the stock. Morgan Stanley slightly adjusted its target price to HK$48.06, maintaining an Overweight rating. Citi raised its target price to HK$53.3 and reiterated a Buy rating, forecasting annual profit growth exceeding 10% over the next three years. CICC maintained its Outperform rating with a target price of HK$48, implying 23% upside potential.
The bullish sentiment follows the company's interim results released on August 31, which showed revenue of RMB 9.217 billion, up 8.1% year-over-year, with core net profit of RMB 2.229 billion, up 10.8%. Gross margin improved from 37.1% to 38.0%. The company declared an interim dividend and special dividend totaling RMB 0.977 per share, achieving a 100% core net profit payout ratio, reinforcing its shareholder return commitment.
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