The Zhitong Finance App learned that CITIC Securities released a research report stating that maintaining Gaoxin Retail (06808)'s “increase holdings” rating, the target price dropped from HK$2.7 to HK$2. The company's net profit for FY2023 was 110 million yuan (same below), turning a loss into a profit; it is expected that the speed of opening stores will increase in FY2024. As of March 31 this year, it has acquired 22 locations to open hypermarkets through signing leases or land acquisitions, and has also signed contracts with 12 Zhongrunfa companies. While the offline business continues to recover, the company expects the online B2C business to continue to grow sustainably.

The bank pointed out that considering that it still takes time for customer flow to fully recover, a large number of small Runfa stores newly opened in FY2022 still need to be cultivated. The company's revenue forecast for the 2024-26 fiscal year was lowered to 884.8/917.9/9444 billion yuan respectively, the original forecast was 962.5/9975/1034 billion yuan, and the net profit forecast for the 2024-26 fiscal year was reduced to 180/41/590 million yuan respectively. The original forecast was 8.4/1,14/1.55 billion yuan, corresponding to the earnings forecast for the 2024-26 fiscal year of 2024 to 26 0.06 yuan.