Yuexiu Transport (1052 HK) - 2023 Core Profit +91% YoY but Below Estimates

188 Views06 Mar 2024 19:57
Broker
Adjusted for RMB100mn of non-cash impairment on Shantou Bay Bridge, the core net profit would be RMB865mn (+91% YoY), 10%/8% below our/consensus forecast as the gross margin is below expectation.
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