On August 1, GLONGHUY | Morgan Stanley published a report stating that after Chinese medicine became successful, adjustments were made to the forecast from this year to the next year based on recent industry trends, including an increase in sales of part of formula granules, a decrease in overall gross margin, and an increase in sales and marketing costs. This is expected to result in an 8-12% decrease in profit from this year to the next. Damo reduced the target price of traditional Chinese medicine in China from HK$5.6 to HK$5.2 accordingly, and the rating “increased holdings”.
大行评级丨摩根士丹利：下调中国中药目标价至5.2港元 评级“增持”
Big Bank Ratings丨Morgan Stanley: Lowering the Target Price of Chinese Medicine to HK$5.2 Rating to “Increase Holding”
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