Gelonghui November 18 | Gaoxin Retail (6808.HK) rose more than 8% again, with a cumulative increase of 55% during the month. Currently, it is reported at HK$1.92, with a total market value of HK$18.4 billion.
Jefferies recently raised Gaoxin's retail rating to “buy”, and the target price increased by 34% to HK$2.46. The bank raised its profit forecast for the 2023-25 fiscal year by 120%/24%/33%, reflecting the impact of profit improvements.
Furthermore, the company's performance in the first half of the fiscal year was better than expected, as food retail continued to benefit from a gradual recovery in offline traffic. Based on cooperation with Alibaba, we ensure that the company's online traffic acquisition costs are manageable.
