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00576 ZHEJIANGEXPRESS
RTNominal up4.990 +0.130 (+2.675%)
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07/11/2018 14:55

[I-bank focus]HSBC trims Zhejiang Expressway to HK$9.4

[ET Net News Agency, 7 November 2018] HSBC Global Research cut its target price for
Zhejiang Expressway (ZJE)(00576) to HK$9.4 from HK$9.8, and maintained its "buy" rating.
The research house said ZJE's NPAT fell 2% in 3Q to RMB867m. For the first nine months
of the year, company NPAT increased 12%, slower than the 20% growth in 1H.
HSBC thinks the fall is due to disappointing performance in its securities business,
Zheshang Securities (Shanghai code: 601878), where net profit declined 31% year-to-date,
generally in line. (KL)

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