Gelonghui issued a report on May 16.$99 (09922.HK) $Earlier, I attended the consumer industry conference held by the bank and provided investors with the latest business updates. According to management, same-store sales of "Nine Maojiu" and "Taier" brands fell 26% and 48% respectively in April, while May Day Golden week holidays fell 22% and 43% respectively. Citing management, the bank said that within days of the resumption of business at its Taier brand stores in Shenzhen a week after the city was closed due to the epidemic, business had returned to January and February levels, while same-store sales in April had returned to about 80 per cent of last year's levels. Daiwa lowered the target price of 99 shares from HK $22 to HK $21, reiterated its "buy" rating, and lowered the group's earnings per share forecast for this year by 15%, reflecting the impact of the recent epidemic in the mainland.