Gelonghui, November 24, 丨 Minhua Holdings (1999.HK) opened high and is now reporting HK$6.7, an increase of 4.7%, with a total market value of HK$26.25 billion. China Post Securities pointed out that in the medium to long term, the upholstered home furnishing industry has maintained good growth. The company continues to seize market share through domestic and foreign sales of two-wheel drives, a continuous variety of products, and the layout and release of domestic and foreign production capacity. The company's net profit for FY2023-FY2025 is estimated to be HK$2,528/29.13/3,327 million respectively, +12.5%/+15.3%/+14.2%, respectively, over the previous year. It was covered for the first time and gave it a “recommended” rating. According to Huacheng Securities, the company's long-term growth path is clear, and the company maintains a “push” rating. Referring to the relative valuation method, it was given a 16-fold valuation for fiscal year 2023, corresponding to the target price of HK$10.