---
title: "JP Morgan lowers the target price for SHENZHOU INTL to 81 yuan, expects recovery in 2026, maintains \"Overweight\" rating"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/281296715.md"
description: "JP Morgan has lowered the target price for SHENZHOU INTL to HKD 81, expecting a recovery in 2026, and maintains an \"Overweight\" rating. SHENZHOU's revenue grew by 8% last year, while profit fell by 7%, below market expectations. Due to weak domestic market demand, profit forecasts for 2026 and 2027 have been cut by 20% and 17%, respectively. Sales and profit are expected to grow by 6% and 4% in 2026, with a net profit margin of 18.3%"
datetime: "2026-04-01T03:28:35.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281296715.md)
  - [en](https://longbridge.com/en/news/281296715.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281296715.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/281296715.md) | [繁體中文](https://longbridge.com/zh-HK/news/281296715.md)


# JP Morgan lowers the target price for SHENZHOU INTL to 81 yuan, expects recovery in 2026, maintains "Overweight" rating

JP Morgan released a report indicating that SHENZHOU INTL (02313.HK) experienced a year-on-year revenue growth of 8% and a profit decline of 7% last year, which was 3% and 11% lower than market expectations, respectively. The performance fell short of expectations mainly due to a sales growth of only 2% in the second half of the year, significantly impacted by weak domestic market demand (with sales dropping 14% in the second half).

The bank stated that in response to weak demand, it has lowered its earnings forecasts for SHENZHOU by 20% and 17% for 2026 and 2027, respectively, and has reduced its target price from HKD 94 to HKD 81, which corresponds to a projected 12-month price-to-earnings ratio of 16 times for 2026, maintaining an "Overweight" rating.

JP Morgan expects SHENZHOU's sales and profits to grow by 6% and 4% respectively in 2026, with a net profit margin of 18.3%, a decrease of 0.5 percentage points compared to the same period last year

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- [SHENZHOU INTL (02313.HK)](https://longbridge.com/zh-CN/quote/02313.HK.md)

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