CITIC Securities: Maintains CONCH VENTURE "Buy" Rating with a Target Price of HKD 14
CITIC Securities released a research report stating that after Conch Venture spun off its solid and hazardous waste business and listed it, it will focus on its main business, and its strong cash flow generation ability is gradually becoming apparent. Although the company has adopted a differentiated competitive strategy by expanding its capacity in county-level markets, its operational results are better than the industry average, demonstrating strong operational capabilities. Looking ahead to 2025, the company's capital expenditure intensity is expected to further decline, and its dividend policy is likely to become more proactive. The firm expects the company's dividend yields for 2025, 2026, and 2027 to be 5.2%/6.7%/8.2% (based on the closing price on October 13, 2025). It gives the company a target price of HKD 14 for 2025 and maintains a "Buy" rating
According to the Zhitong Finance APP, CITIC Securities released a research report stating that after the spin-off of Conch Venture (00586) for its solid and hazardous waste business, it will focus on its main business, and its strong cash flow generation ability is gradually becoming apparent. Although the company adopts a differentiated competitive strategy by expanding capacity through county-level market development, its operational results are better than the industry average, demonstrating strong operational capabilities. Looking ahead to 2025, the company's capital expenditure intensity is expected to further decline, and its dividend policy is likely to become more proactive. The firm expects the company's dividend yield for 2025, 2026, and 2027 to be 5.2%/6.7%/8.2% (closing price as of October 13, 2025). It gives the company a target price of HKD 14 for 2025 and maintains a "Buy" rating
