---
title: "Stock Analysis: First Resources | Lianhe Zaobao"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/273352283.md"
description: "First Resources recommends a buy with a target price of 2.50 yuan, closing price at 2.07 yuan (+0.98%). It is expected that with production reaching its peak, the company's net profit will increase by 10% quarter-on-quarter. Although the price of crude palm oil fell by about 5% at the end of last year, the increase in production offset the negative impact. Core fresh fruit bunch production is expected to grow by 20% to 25% year-on-year. Looking ahead to this year, profits are expected to remain stable, with fresh fruit bunch production projected to increase by 5% to 10% year-on-year. Despite a previous drop of about 7% in stock price due to rising palm oil export taxes, the downside is limited, maintaining a \"buy\" rating"
datetime: "2026-01-22T09:48:46.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/273352283.md)
  - [en](https://longbridge.com/en/news/273352283.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/273352283.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/273352283.md) | [繁體中文](https://longbridge.com/zh-HK/news/273352283.md)


# Stock Analysis: First Resources | Lianhe Zaobao

### First Resources

-   Recommendation: Buy
-   Target Price: 2.50 CNY
-   Closing Price: 2.07 CNY (+0.98%)

First Resources plans to announce its fiscal year-end results for 2025 on February 27. We expect the company's net profit to grow by 10% quarter-on-quarter, supported by production reaching an annual peak.

Although the price of crude palm oil declined by about 5% quarter-on-quarter in the last quarter of last year, First Resources managed to offset this negative impact with increased production.

Management has revealed that fresh fruit bunches saw an increase in the last quarter of last year. For the full year, we expect First Resources' core fresh fruit bunch production to grow by 20% to 25% year-on-year.

#### Further Reading

Stock Commentary: Thai Beverage Stock Commentary: Bumitama Agri

Looking ahead this year, we estimate that First Resources' earnings will remain stable, mainly due to increased production. As for fresh fruit bunch production, we estimate a year-on-year increase of 5% to 10%.

Although First Resources' stock price has seen a decline of about 7% due to Indonesia's further increase in palm oil export taxes, we believe the downside potential is limited, and the stable earnings outlook and dividend payouts of First Resources will help support the stock price.

Maintain "Buy" rating, target price 2.50 CNY. (UOB Kay Hian)

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