《大行》汇丰研究:中国宏桥(01378.HK)2025财年业绩略逊预期

阿斯达克财经
Mar 24

汇丰研究发表报告指,中国宏桥(01378.HK) 2025财年业绩稳健,但略低于该行预期;利润率受压,且可转换债券公允价值亏损拖累盈利。汇丰研究维持中国宏桥“买入”评级及41元目标价,在宏观不确定性下,认为铝在其覆盖范围内比铜和黄金更具韧性。该行业估值已随其他有色金属同步下调;经修正后,宏桥以约2026财年预估市盈率7.7倍作交易,股息率约9%的估值看来颇具吸引力。短期催化因素包括3月至4月需求...

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