CLSA maintained its "buy" rating on 00703-HK, but lowered its target price to 5.20 yuan from 5.60 yuan.

Jiajing Group, which does catering business in Macao, is suffering from a slowdown in the growth of the gambling industry recently, and its new business is in a state of loss in the early stage of its opening, which has an impact on the group's profits this year, but continues to be optimistic about Jiajing's long-term development.

Lyon cut its earnings forecast for the next three years by 8 per cent, but the company is currently trading at 11 times forecast earnings and its valuation is still attractive.