Lates News

UBS released a report stating that China Railway Construction's first-quarter revenue and recurring net profit decreased by 6% and 14% respectively compared to the same period last year. The lower recurring profit than the bank and market expectations was mainly due to weak gross profit margins. The gross profit margin declined from 7.8% in the first quarter of 2024 to 7.5% in the first quarter of 2025. Reflecting lower-than-expected first-quarter earnings, UBS reduced the stock's 2025 target price-to-earnings ratio from 3.4 to 3.3 times and lowered the target price by 9% to 5.1 Hong Kong dollars, rating it as "neutral".