Gelonghui, April 26 | According to Daiwa Development Research, it is expected that after Midea and Hong Kong customs clearance, Tam Tsai International (2217.HK)'s business expansion in the Greater Bay Area of mainland China will return to the right track in fiscal year 2024, and profit margins are also expected to benefit from price increases in January 2023. Based on the predicted price-earnings ratio of 20 times for the 2023-24 fiscal year, Daiwa reiterated its “buy” rating, with a target price of HK$3 for December. According to the report, the profit warning issued recently by the company expects net profit for fiscal year 2023 to fall 30 to 35% year on year, in line with its forecast of a 32% decline. It also means that the company's net profit for the fourth quarter of fiscal year 2023 will increase 5 to 56% year on year to 2,100 to 31 million yuan. The stock is currently reported at HK$2.11, with a total market value of HK$2.8 billion.