Understanding the Market | CTIHK rises over 6%, with annual net profit expected to increase by more than 30% year-on-year; institutions indicate that its growth potential is worth looking forward to
CTIHK rose over 6%, as of the time of writing, up 6.77% to HKD 28.4, with a transaction volume of HKD 74.7629 million. On the news front, CTIHK previously issued a profit warning, forecasting that the net profit for the fiscal year 2024 will increase by no less than 30% year-on-year. China International Capital Corporation (CICC) stated that this is in line with expectations, and the firm is optimistic about the synergy between CTIHK's organic growth and external expansion, believing that CTIHK possesses an exclusive license and serves as the international capital operation platform under China National Tobacco Corporation, which has rare value. Guotai Junan Securities indicated that the company is positioned as the capital operation platform of the China National Tobacco system, and the previous acquisition of China National Tobacco Brazil provides a good model for subsequent merger and acquisition expansion, with revenue growth of 41%/43% for the Brazil business in 2023/2024H1. As an important external expansion platform for the China National Tobacco system, it supports the international development of China National Tobacco, and the company's growth potential is worth looking forward to
