The Zhitong Finance App learned that Jefferies released a research report stating that according to the “buy” rating for Sasha International (00178), sales for fiscal year 2024 are in line with this forecast, with a target price of HK$2.

According to the report, Sa Sa Sa International's sales in Hong Kong fell short of expectations by 6%, but this was offset by better performance in other markets. Jefferies believes that part of Hong Kong's fourth quarter results fell short of expectations because the base for the same period last year was higher and the normalization after Covid-19 was earlier than expected. Furthermore, changes in Hong Kong residents' consumption patterns have also played a role.

Furthermore, the overall sales volume of Sa Sa Sa International fell 4% to 1 billion yuan. Hong Kong and Macau sales fell 7.7% to $801 million, mainly due to the high base effect and the impact of Hong Kong people spending in the north. In addition, benefiting from the high growth in online sales, mainland sales increased by 18.2%, returning to 60.5% of 2019 levels.