CICC published a report stating that HSBC HOLDINGS (00005.HK) -2.800 (-1.682%) Short selling $223.37M; Ratio 12.848% 's second-quarter results comprehensively exceeded market expectations. Adjusted operating income for 2Q increased 7.8% YoY, outperforming the market consensus forecast of 2.3%, mainly driven by higher net interest income and growth in wealth management business; adjusted pre-tax profit surged 12.9% YoY, beating the market consensus forecast of 4.2%.

CICC said HSBC HOLDINGS (00005.HK) -2.800 (-1.682%) Short selling $223.37M; Ratio 12.848% 's adjusted net interest income for 2Q rose 8.7% YoY and 3.5% QoQ, exceeding the market consensus forecast of 1%; adjusted NIM edged up 1 bps QoQ to 2.03%. The balance sheet continued to expand, with customer deposits growing 6% YoY and net loans increasing 4% YoY. Deposit growth mainly came from commercial and retail deposits in the UK and Hong Kong, as well as new client acquisition in global payment solutions and securities services for corporate banking. Loan growth was driven by demand for commercial lending, mortgage loans, global trade solutions and infrastructure financing.

Based on stable growth in deposits and loans as well as the current interest rate environment, the company raised its full-year net interest income guidance to at least USD46 billion, while maintaining its guidance for return on tangible equity (RoTE) above 17% through 2028. Management disclosed that through simplification of the group's structure, annualized cost savings of USD1.7 billion had already been achieved in 1H, and the full-year savings target was raised from USD1.5 billion to USD2 billion; restructuring costs remained unchanged at the expected USD1.8 billion. In addition, the company announced the resumption of a share buyback program of up to USD1 billion and declared an interim dividend of USD0.1 per share, reiterating a 50% payout ratio.

Considering that revenue and net profit both exceeded expectations, CICC slightly raised its 2026 revenue forecast for HSBC HOLDINGS (00005.HK) -2.800 (-1.682%) Short selling $223.37M; Ratio 12.848% by 1.7% to USD74.5 billion and its 2027 revenue forecast by 2.7% to USD78.5 billion. It also raised its 2026 net profit attributable to shareholders forecast by 4.6% to USD29 billion and its 2027 net profit forecast by 6.2% to USD32 billion. The broker maintained its TP at HKD171, implying around 3% upside potential, and maintained its Outperform rating.(ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-05 12:25.)