According to the report published by Goldman Sachs, Unification Enterprise China reported a strong increase in recurring net profit in the first quarter, rising 104% year-on-year, benefiting from strong beverage sales growth momentum (up more than 10% year-on-year), increased gross margin by 4 to 5 percentage points, and flat sales and marketing expenses from year to year. According to the bank, the company's management gave a positive sales outlook, that is, double-digit growth for the whole year, and sustainable gross margin expansion due to favorable factors in efficiency, product portfolio upgrades, and cost. The bank raised the stock's net profit forecast by 26% to 29% from this year to 2026, and raised its target price for the share from HK$5.7 to HK$7.3, maintaining the target price-earnings ratio of 14 times the predicted price-earnings ratio. The investment rating was raised from “neutral” to “buy” based on the company's quarterly results significantly beating expectations and optimistic views on the long-term growth of the beverage industry.
高盛：上调统一企业中国目标价至7.3港元 评级上调至“买入”
Goldman Sachs: Raise the target price of the unified enterprise in China to HK$7.3 and upgrade the rating to “buy”
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