Glonghui, May 27 | Yamato published a report stating that Taobo's profit forecast for the current and next fiscal year was lowered by 11%, and the target price was lowered from HK$7 to HK$6.6. To predict a price-earnings ratio of 15 times, while confirming the “buy” rating, the stock was viewed as an attractive dividend dividend stock, and benefited from a recovery in basic factors. The bank's total retail sales have declined year by year since the current fiscal year, affected by last year's high base and delayed launch of new products, even though sales have improved month-on-month since May. Management remains confident about the current fiscal year's sales growth target. Overall discounts have increased slightly from the current fiscal year to now, due to the shift in channel mix to online channels, even though discounts through social media traffic have improved year by year. Management will maintain an omnichannel retail strategy to drive store and area unit efficiency while leveraging emerging sectors and new business models to drive future growth. Daiwa indicates that Taobo's recovery process is uneven but dividends are attractive. It predicts dividend returns of 8%, 9.1% and 9.9% for the 2025 to 2027 fiscal year, respectively.