Morgan Stanley cuts target for Minsheng Bank stock to HKD 4.70

Published on 10/13/2026 at 03:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half net profit fell 8.62 percent to RMB 19.5 billion. Minsheng Bank stock had a CNY 155.9 billion market value on October 12, 2026.

Key points in brief

Morgan Stanley cut its target for Minsheng Bank to HKD 4.70 on October 9, 2026.
First-half operating income rose 4.23 percent to RMB 73.7 billion, while net profit fell 8.62 percent to RMB 19.5 billion.
Credit impairment losses increased 20.81 percent to RMB 31.5 billion in the first half of 2026.
The last euro quote was EUR 0.39 at Lang & Schwarz on October 12, 2026.

Minsheng Bank, CNE100000HF9, Illustration mit AI erstellt.

Morgan Stanley cut its target for Minsheng Bank (CNE100000HF9) stock to HKD 4.70 on October 9, 2026, according to Futu. The reduction puts the bank's credit costs and margin outlook at the center of the investment case.

Three dated signals shape the story

On September 21, 2026, China Minsheng Bank listed the successful issuance of RMB 10.0 billion in financial bonds. On September 28, 2026, its interim report showed first-half operating income of RMB 73.7 billion, up 4.23 percent year over year, while net profit attributable to shareholders fell 8.62 percent to RMB 19.5 billion, according to Futu. The October 9 target cut is the latest of the three signals.

What does the target cut signal?

The Morgan Stanley report lowered the target by 11.30 percent to HKD 4.70 and linked its broader bank view to deleveraging, profit recovery and valuation repair. The report also described a 12-to-18-month period for those sector trends, making the target revision a forward-looking counterweight to the bank's resilient revenue line.

Minsheng Bank's first-half net interest income rose 6.87 percent to RMB 52.6 billion, while net fee and commission income increased 1.28 percent to RMB 9.8 billion, according to Futu. Credit impairment losses rose 20.81 percent to RMB 31.5 billion, the main reported factor behind the profit decline.

Margins remain the key test

The first-half net interest margin was 1.47 percent, an increase of 8 basis points from the comparable period, while the cost-to-income ratio improved by 1.42 percentage points to 29.22 percent. The bank also declared an interim dividend of RMB 1.18 per 10 shares before tax, totaling RMB 5.166 billion, according to Futu.

Asset quality provides a second point of reference. The non-performing loan ratio stood at 1.47 percent at the end of June 2026, down 0.02 percentage points from the end of 2025, while the provision coverage ratio reached 142.19 percent.

Last euro quote dates to October 12

The last euro quote stood at EUR 0.39 at Lang & Schwarz on October 12, 2026 at 10:57 p.m. CEST, with a bid of EUR 0.37 and an ask of EUR 0.41. Finance data put the company's market capitalization at CNY 155.9 billion on October 12, 2026, with a 52-week range of CNY 3.20 to CNY 4.26 on the Shanghai-listed instrument.

The further course of trading is shown by the continuously updated real-time quote of Minsheng Bank stock.