CICC: Maintain outperform rating on China Galaxy Securities (06881), raised target price to 13.8 Hong Kong dollars.

According to the app of Wisdom Finance, Zhongjin released a research report stating that considering the increase in market activity, the net profit for China Galaxy (06881) for 2025 and 2026 has been raised by 23% and 14% to 13.5 billion yuan and 13.8 billion yuan, respectively. The company's H-shares are currently trading at 0.8x/0.7x P/B for 2025 and 2026. Taking into account the sentiment recovery, the target price has been raised by 44% to HK$13.8, with a maintained outperform industry rating (corresponding to 0.9x/0.8x 2025 and 2026 P/B and 20% upside potential).