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<Research>M Stanley: HANG LUNG PPT's 1H EPS Misses; Intact Full-Yr Div. Still Questionable
Recommend 6 Positive 8 Negative 8 |
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HANG LUNG PPT (00101.HK)'s 1H25 EPS dropped by 13% YoY to HKD0.33, below the market expectation of HKD0.35, according to Morgan Stanley's research report. The company's net income fell by 9% YoY, worse than the expected 6% decline, with a 6% expansion in equity base. The interim dividend remained at HKD0.12, unchanged from the same period last year. A 12-month dividend yield of 6.7% was still attractive, though whether the final dividend could reach HKD0.4 remained questionable. Should the 1H net income of HKD1.587 billion be adjusted for capitalized interest of HKD491 million, it can only support a dividend of HKD0.46, making it difficult for the company to maintain the full-year dividend at the same level. Morgan Stanley gave HANG LUNG PPT a target price of HKD6.5 and an Equalweight rating. AAStocks Financial News |
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