The Zhitong Finance App learned that Daiwa released a research report saying that China's Wangwang (00151) target price was lowered 11% from HK$7 to HK$6.2, and the earnings forecast per share for the 2024-2025 fiscal year was 10.4%/8.6% to RMB 0.316/0.358 yuan to RMB 0.316/0.358 yuan to reflect a lower revenue forecast, but still maintained a “buy” rating.

The bank mentioned that China's Wangwang's net profit for the 2023 fiscal year ending the end of March fell 20% year on year to 3.3 billion yuan, which is lower than the bank's and market expectations of about 10%, but it believes that sales will gradually recover. It believes that the visibility of the recovery in operating profit margins this year is relatively high, and that a dividend rate of over 6% can also provide downward protection.