CICC: Raises target price for Guotai Junan Securities (00257.HK) to 5.2 Hong Kong dollars, increases dividend forecast.

Intelligence Finance APP learned that Zhongjin released a research report stating that Guangda Environment (00257.HK) had a year-on-year decrease of 8% in operating income in the first half of the year, a 10% decrease in net profit, and a 7% increase in dividend to 0.15 Hong Kong dollars, with a dividend payout ratio of 42%. The bank expects that Guangda Environment will maintain steady capital expenditures in the next two years, but with the expansion of garbage incineration projects in Central Asia and Southeast Asia, the proportion of overseas business capital expenditures may increase. The bank maintains the group's profit forecast, continues to give a "outperform industry" rating, and believes that although the group's mid-term profitability is declining, the free cash flow is stable, so it has raised the group's dividend forecast for this year to 0.25 Hong Kong dollars, a 10% increase year-on-year, and raised the target price by 8% to 5.2 Hong Kong dollars.