Oriental Selection (01797) fell by more than 4%. As of press release, it was down 4.57% to HK$17.14, with a turnover of HK$92.8962 million.
The Zhitong Finance App learned that Oriental Selection (01797) fell by more than 4%. As of press release, it fell 4.57% to HK$17.14, with a turnover of HK$92.8962 million.
According to the news, the Tianyancha App shows that recently, Oriental Choice (Beijing) Technology Co., Ltd., an affiliate of Oriental Selection, was fined 13,000 yuan by the Beijing Municipal Administration of Culture and Tourism because the online tour operator operated a travel agency business and did not obtain a travel agency business license. According to reports, Oriental Choice is wholly owned by Beijing New Oriental Express Network Technology Co., Ltd. In August of last year, the company added travel agency service outlets, travel recruitment, consulting services, etc. to its business scope.
Goldman Sachs previously pointed out that it is expected that the worst situation in Oriental Selection has passed. It is expected that in the fourth fiscal quarter of FY2024, gross operating margin will improve to 7%. The bank lowered the target price of Oriental Selection from HK$21.5 to HK$18.4. The investment rating is “neutral” based on increased pressure on profit margins.