Jiumaojiu's 2024 new store guidelines are in line with CITIC Lyon's predictions, but it is expected that same-store sales growth will decline slightly in the future.
The Zhitong Finance App learned that CITIC Lyon released a research report stating that the target price was raised by 4.2% from HK$5.73 to HK$5.97 for Jiumaojiu (09922) as “outperforming the market”. The company's fiscal year 2023 sales increased 49% to 6 billion yuan, and net profit was 453 million yuan. Taiji's 18.3% increase in same-store sales in 2023 highlights its brand strength, but the bank expects limited room for growth. Furthermore, Jiumaojiu's 2024 new store guidelines are in line with the bank's forecast, but the bank expects same-store sales growth to decline slightly in the future.