DBS maintains a hold rating on Yajule, expects to be affected by the restructuring of Yajule.

Jin10 reported on April 2 that DBS issued a research report indicating that the restructuring of Agile Group (03383.HK) is ongoing. As a valuable overseas asset with a 45% stake, Agile Living (03319.HK) may be included in the overseas restructuring plan, potentially offsetting some outstanding overseas debts through credit enhancement or debt-to-equity swaps. Therefore, Agile Group’s restructuring will exert pressure on Agile Living’s stock price in the near term. Additionally, there remains uncertainty regarding the recoverability of receivables from third parties and related parties. Considering the limited profit outlook and the downward revision of revenue and profit margin forecasts, DBS further lowered its earnings forecast for Agile Living by 21% to 25% for the next two years, maintaining a hold rating, with the target price raised from HKD 2.6 to HKD 3.