招商证券(香港)：中金公司（03908）港股公司研究报告-2019profitinline

中金公司(03908) 2019shareholders’profitup22%yoy,inlinewithourexpectation Managementeyesascalegrowthfueledbytalentandtechnology MaintainNEUTRALonmarketuncertainties;TPcutslightlytoHKD13.8 2019profitgrowthinline CICC’s2019resultsareinlinewithourexpectation:1)Ordinaryshareholder’sprofittotalledRMB4,182mn,up22%yoyin2019,inlinewithourexpectationofRMB4,180mn.ROEcameinat9.6%in2019.2)CICCgrewtheclientbaseofitswealthmanagementbusinessin2019.ThenumberofHNWclientsbelongingtoCICC’swealthmanagementdivisionreache