Changes in Hong Kong stocks | Everbright Environment (00257) rose more than 4% in the afternoon, the company has initiated an A-share listing counseling, Citi says the company's profit growth is expected to accelerate

The Zhitong Finance App learned that Everbright Environment (00257) rose more than 4% in the afternoon. As of press release, it had risen 4.53% to HK$4.85, with a turnover of HK$48,333,300.

According to the news, on December 26, the Securities Regulatory Commission website showed that Everbright Environment applied for counseling and filing registration with the Shenzhen Securities Regulatory Bureau and initiated listing guidance. Everbright Environmental is a well-known domestic waste incineration company. According to the company's 2024 annual report, it is the largest environmental enterprise in China and the world's largest waste-to-energy investment operator.

Citigroup released a research report stating that it reaffirms its “buy” rating for China Everbright Environment, based on an expected increase in positive free cash flow last year, which is sufficient to cover financing costs and dividend payments for the first time, which is beneficial to continued dividend growth; capital expenditure is more prudent, mainly in overseas projects where the return on investment is higher than that of domestic projects; and the catalyst for the dual listing of A-shares, which is expected to drive the revaluation of H shares. The bank believes that the company's profit growth this year is expected to accelerate year by year.