＜Research＞M Stanley: HANG LUNG PPT (00101.HK) Interim EPS Miss Forecasts, Div. Falls by 33%; Negative Mkt Response Expected

　　HANG LUNG PPT (00101.HK) -0.740 (-11.581%) Short selling $4.64M; Ratio 14.809% 's 1H24 EPS was $0.38, falling 22% YoY, worse than Morgan Stanley's forecast of an 11% drop, Morgan Stanley released a research report saying. Interim dividend dropped by 33% to $0.12, which is also unexpected.

　　Assuming a 33% decline in full-year dividend with a yield of 8.2%, the market will react negatively.

　　Related NewsHANG LUNG PPT Interim Underlying NP $1.735B, Down 22% YoY; Interim Div. $12 Cents

　　Based on the assumption of a similar reduction in final dividend, the total dividend is estimated to be $2.3 billion, equivalent to 82% of full-year cash earnings. Therefore, Morgan Stanley kept rating at Overweight, with a target price of $13.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-30 12:25.)

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