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DBS raised Kangshifu (00322.HK) target price to 14 yuan. Pricing strategy managed to maintain profit margins.
Macquarie published a research report mentioning that Master Kong (00322.HK) manages pricing to maintain profit margins. In response to rising palm oil prices, prices for mid-range noodle products will be adjusted to increase in the middle to high single digits. After analysis, it was concluded that the adjustment of noodle product prices in the middle single digits can fully offset the 35% increase in palm oil prices. Given that competition in the industry is easing and the noodle product industry is in an optimal state, Macquarie believes that Master Kong's gross margin can be maintained. Macquarie expects that Master Kong's overall revenue growth in the second half of the 2024 fiscal year will reach 0.1%, better than the earlier forecast of a decline of 0.4%; net profit is expected to rise by 16% year-on-year.
Hong Kong stocks: Hang Seng Index rose 51 points in the first half of the day, netease surged by 13%, "Bilibili" dropped by 10%.
Mainland China's major economic indicators rebounded last month (retail sales up 4.8% year-on-year, beating expectations), with the Hong Kong stock market performing well in the morning. The Hang Seng Index opened 67 points higher, fell 103 points in the early stage to 19,332 points before rebounding, rose 172 points to 19,608 points at one point, up 51 points or 0.3% at midday, closing at 19,486 points; The H-share index rose 27 points or 0.4%, closing at 7,001 points; Hang Seng Tech Index rose 38 points or 0.9%, closing at 4,357 points, with a total turnover of 85.151 billion Hong Kong dollars in the morning session. In the financial sector, HSBC Holdings (00005.HK) rose by 0.8%, while Standard Chartered (02888.HK) and Hong Kong
tingyi (00322.HK): Significant dual industry leadership advantages, stable growth under high dividend strategy.
Report Summary: Instant noodles and soft drinks, the dual giants, have excellent comprehensive strength. Since its establishment in 1992, starting with the instant noodle business, it has grown into a leading enterprise in the fast-moving consumer goods industry. The company has high ownership concentration, experienced management, and motivates through equity.
UBS Group raised its target price for Want Want China Holdings (00220.HK) to 9.14 yuan. The third-quarter profit was slightly below expectations due to reinvestment to enhance revenue growth.
Ubs Group's research report pointed out that u-presid china (00220.HK) net profit for the first nine months of this year increased by 11.4% year-on-year, slightly lower than the market's general expectation of a 13% year-on-year increase, but still better than the bank's expectation. The bank believes that the continued integration of the noodle and beverage sectors under u-presid will moderately improve its research and development cost efficiency. The bank expects that profit growth in the fourth quarter will be mainly driven by revenue growth. As the tax incentives resulting from the previous losses in the beverage sector gradually disappear, its effective tax rate may slightly increase. Ubs Group cited u-presid management as saying that revenue growth in October this year will further accelerate, mainly due to the noodle sector.
CICC: Consumer is expected to benefit from multiple perspectives in 2025.
Looking ahead to 2025, it is expected that with a package of stimulus policies in place, essential consumer sectors are expected to benefit directly and indirectly from measures such as the distribution of consumer vouchers, boost in consumer confidence, and anticipated improvements in household income.
Tingyi Signs Three-Year Supply Deal With Ting Qiao
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