The Zhitong Finance App learned that Citibank released a research report saying that Chow Tai Fook (00659.HK) recently announced the sale of operating rights in 3 toll road assets at a total price of 1,794 million yuan. The bank maintains its “buy” rating. The target price is HK$10.4, and the company expects a dividend rate of 6.9%. The transaction is equivalent to about 10 times the price-earnings ratio of the previous price-earnings ratio, which is higher than the average valuation of similar listed toll road companies about 9 times, reflecting excellent asset quality.

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