[ET Net News Agency, 27 August 2020] Credit Suisse raised its target price for Yixin
Group (02858) to HK$1.9 from HK$1.5 and maintained its "neutral" rating.
The research house said Yixin's 1H revenue and transaction volume declined by 49%/58%,
largely attributed to the impact from COVID-19. The adjusted net loss came in at Rmb871mn
(1H 2019: Rmb343mn profit), implying -54% margin, driven by Rmb1.5 bn credit impairment
loss.
Credit Suisse projected total revenue to shrink by 37% to Rmb1.67bn, and adjusted net
loss narrows to Rmb100mn, as credit impairment loss gradually normalises. It revised its
2020 non-GAAP loss to Rmb970mn (was Rmb162mn loss) to reflect larger-than-expected loss
during 1H. (KL)
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02858 YIXIN
Nominal 
0.650 +0.010 (+1.563%) Research Report
27/08/2020 15:32
{I-bank focus}Credit Suisse raises Yixin (02858) to HK$1.9
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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