According to a report published by Citigroup, Minhua's main revenue and net profit for the 2024 fiscal year increased by 6.1% and 20.2%, respectively, to 18.411 billion yuan and 2.3 billion yuan, both exceeding expectations of 18.14 billion yuan and 2.23 billion yuan. The bank quoted Minhua's management as pointing out that although the company still faces the macro-challenges of slowing down the real estate market, the overseas business momentum seems to have outperformed the Chinese business after removing inventory. The company will continue to expand its market share, open new stores in low-tier cities, maintain an increase in the penetration rate of sofas in the Chinese market, and narrow the gap with the European and American markets.

The bank raised Minhua's profit forecast for the 2025 to 2026 fiscal year by 12% to 19%, mainly reflecting the bank's increase in its gross margin forecast. The target price was raised from HK$8.5 to HK$10.5, corresponding to 16 times the projected price-earnings ratio for FY2025, and rated “buy”.