The Zhitong Finance app learned that Daiwa released a research report saying that Tan Tsai International (02217) has a target price of HK$3 and is rated “buy.” According to the bank, the company's adjusted net profit for the first quarter of FY2024 was HK$34 million, up 14% from quarter to quarter. Revenue increased 15% year on year to HK$687 million, and up 4% quarterly. The first fiscal quarter improved month-on-month due to factors such as the continuous launch of new products by Tan Tsai. For the company's restaurants in mainland China, although the overall market situation remains bleak, revenue growth and effective cost control may further control net losses.