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<Research>CICC Elevates SINOTRANS (00598.HK) TP to $4.75, Keeps Rating at Outperform
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SINOTRANS (00598.HK) announced that it has signed a share purchase agreement with buyer, MIC Industrial Investments 4 RSC LTD, to sell a 25% stake in Loscam International for US$470 million, according to CICC's research report. After the transaction is completed, SINOTRANS will retain a 20% stake in Loscam International. Therefore, the broker kept rating at Outperform for SINOTRANS, and elevated its target price by 10.5% to $4.75. After considering expected investment gains, deducting the reduced earnings from the sale of Loscam International's stake and adjusting tax impact, CICC estimated that the transaction could increase SINOTRANS' net profit by RMB1.35 billion, equivalent to a 38% growth in 2025 earnings. AASTOCKS Financial News Website: www.aastocks.com |
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