GLONGWANG's gross margin is expected to increase to 21% in FY2024, compared to 20.1% in FY2023, due to the recent weakening of commodity prices and the company's low price sales of specific products and active operating leverage implemented by the company last year. The bank maintained China's Wangwang buying rating. The target price dropped from HK$8.1 to HK$6.6.
花旗：下调中国旺旺(0151.HK)目标价至6.6港元，评级买入
Citibank: Lowering the target price of China's Wangwang (0151.HK) to HK$6.6, rating to buy
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