It puzzled me why would iFast want to disclose their forecast of the HK MPF business in 2024/2025 and the granular details including net revenue and PBT margin. As a listed company, they are not obliged to do so, all the more the forecasts that are 3-4 years out. There will be external events outside their control that may derail the pathway to such forecasts. They know very well such forecasts will be subject to scrutiny, not only by the investing public but also the regulator.
I can only come to two guesses. Firstly, iFast is ultra-confident of the forecasts. This means that the forecasts are probably very conservative and they can easily achieve much more than the forecasts. This will save them from being labelled as attempting to mislead the investing public. Secondly, they are of the view that their current share price may not be sustainable and/or their next few quarters performance will be lacklustre that they need such far-out optimistic forecasts to sustain the "high" share price.
Any other guesses?
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