Goldman Sachs recommends buying MTR, negative factors have been reflected

MTR issued a profit warning last Thursday (5th), predicting that the basic business profit this year will be less than 11.263 billion yuan last year

However, it believes that the group’s financial position remains healthy and it is recommended to maintain the existing progressive ordinary dividend policy. Goldman Sachs issued a report yesterday saying that MTR’s stock price has reflected the unfavorable factors of social turmoil in recent months. MTR will open 3 new shopping malls in 2023, and it is expected that 7 new railway projects will be opened in the future, which can become a driving force for business growth. At present, MTR’s risk-reward ratio is attractive. We maintain the “Buy” rating and unchanged target price of RMB 54. MTR yesterday closed at a high of the day and closed at 45.7 yuan, up 4.1%.

Optimistic about the real estate business yesterday 4%

Goldman Sachs continued that MTR’s retail business is dominated by local consumption, and believes that the performance will continue to outperform the market, and it has locked in large property development profits, estimated at 56 billion yuan, which can offset the impact of further deterioration of the railway business.

The bank pointed out that MTR management has recently held an investor meeting. Most investors are concerned about the local social situation, merchant rent discussions and the latest situation of the Shazhong Line. Most of the MTR stations have resumed normal service. The past two weeks The social situation has also stabilized. MTR earlier pointed out that social turmoil had caused Hong Kong’s recurring business to make a net profit of 1.6 billion yuan less this year. The company’s management hoped that it would only have a short-term impact, but frankly that rents and ticketing revenues were difficult to return to previous levels in the short term.

Airport Express launches Christmas offer

In addition, MTR has launched Christmas and New Year discounts. From Monday (16th) to February 2nd next year, seniors and children (3 to 11 years old) take the Airport Express to enjoy half-price and free concessions, covering Hong Kong, From Kowloon or Tsing Yi Station to and from the Airport Station; however, children who enjoy the relevant free ride discount cannot use the free MTR connection service at the same time.

The Airport Express service will be strengthened during Christmas and New Year. From 22 to 24 this month, the Airport Express train service from Hong Kong Station to the airport will depart at 5 am in advance. The first bus at Expo Station will be at 5 am Departure time is 26; on the 26th of this month and on the 1st of January next year, the service will be extended by the Airport Express train returning to the urban area via the airport station for 40 minutes. The last train will depart at 1:25 am Out.


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