Glonghui, May 24 | Bank of China International released a report saying that Taobo's 2024 fiscal year results were slightly lower than expected, mainly because profit margin recovery was slower than expected. However, the performance report showed that retail sales continued to improve, and attempts at revenue diversification had some results. In addition, Taobo plans to pay a final dividend and a special dividend, totaling 0.2 yuan per share, bringing the 2024 dividend payout ratio to 101%, reflecting the company's commitment to shareholder returns. Therefore, BOC International believes that although recent operations are still being affected by the weak macro environment, it believes that dividend rates can support stock prices. The bank reconfirmed the “buy” rating, and the target price was reduced from HK$7.7 to HK$7.5.
大行评级｜中银国际：下调滔搏目标价至7.5港元 重申“买入”评级
Bank Rating | Bank of China International: Lowering Taobo's Target Price to HK$7.5 to Reiterate “Buy” Rating
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