GLONGHUI June 27丨CITIC Securities issued a report stating that Gaoxin Retail's net profit for fiscal year 2023 was 110 million yuan, turning a loss into a profit. It is expected that the company will increase the speed of opening stores in FY2024. As of March 31 this year, the company has obtained 22 locations to set up hypermarkets through the signing of leases or land acquisitions, and has also signed contracts with 12 Zhongrunfa stores. While the offline business continues to recover, the company expects to continue to maintain the sustainable growth of the online B2C business. The target price dropped from HK$2.7 to HK$2, and the rating maintained its holdings.