Zhongtong Finance APP learned that Uni-President China (00220) surged more than 5% in the afternoon. As of press time, it rose 4.62% to HKD 6.8 with a turnover of HKD 45.7657 million.

HTSC released a research report stating that in the analyst meeting, the company management said that the Q1 2024 overall revenue of the company grew at a low double-digit rate, mainly due to the impact of the Spring Festival and good sales of the beverage business, and the food business also recorded positive growth. Looking forward to 2024, the company is confident of achieving a double-digit growth target for the beverage business throughout the year, and the food business is also expected to grow steadily driven by new product launches and old product upgrades.

CICC stated that Uni-President China continues to promote product innovation, actively lay out the sugar-free tea track, such as launching new products such as Uni-President sugar-free green tea "Chun Fu Green Tea", 900ml sea words electrolyzed water, NFC tomato juice, etc.; in the past few years, the company has improved its channel power, and the results have gradually shown. CICC also stated that Uni-President China's beverage business maintains a relatively high level of prosperity, and its full-year profit margin is expected to be restored. It is bullish on the company's full-year performance. The company's target price has been raised by 11% to HKD 8.3, and it maintains an "outperform the market" investment rating.