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<Research> Huatai Securities Indicates Chongqing Bank (01963.HK) Continues High Growth in Balance Sheet, Raises TP to HKD9.91
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Huatai Securities' research report indicates that Chongqing Bank (01963.HK) is expected to see a year-on-year increase of 10.5% in both net profit attributable to shareholders and operating income by 2025, with performance largely meeting the firm's previous expectations. The company's expansion is supported by significant regional strategies, with strong growth in net interest income and overall stable non-performing assets. The firm stated that considering the company's future balance of capital factors, expansion may slow down. It forecasts net profit attributable to shareholders for 2026 to 2028 to be RMB6.2 billion, RMB6.9 billion, and RMB7.6 billion, respectively, with annual growth rates of 10.1%, 10.4%, and 11.1%. The book value per share (BVPS) for 2026 is expected to be RMB17.1, corresponding to a forecasted price-to-book ratio of approximately 0.64x for Chongqing Bank's A-shares (601963.SH) and 0.4x for its H-shares. The firm raised the target price for Chongqing Bank's A-shares from RMB11.85 to RMB12.48, with an "Overweight" rating, and also raised the target price for its H-shares from HKD9.81 to HKD9.91, with a "Buy" rating, believing that the company's net interest margin is stabilizing and high growth in balance sheet expansion continues. (hc/j) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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