Vitasoy Int'l (00345) fell more than 3%, with a drop of 3.04% to HKD 5.74 and a turnover of HKD 25.9847 million as of press time.
According to the Zhongtong Finance APP, Vitasoy Int'l (00345) fell more than 3%, dropping 3.04% to HKD 5.74 with a turnover of HKD 25.9847 million as of press time.
On the news front, VITASOY INT'L (00345) announced that on June 26, 2024 ("Grant Date"), the company respectively granted a total of 5.244 million share options and a total of approximately 3.1138 million units of restricted share units to several qualified grantees (collectively "Grantees") in accordance with the share option plan adopted on August 30, 2022 and the share award plan adopted on March 22, 2021, subject to the acceptance of the Grantees.
According to a research report released by Lyon, it maintains its rating of "underperform" for Vitasoy Int'l (00345) and is cautious about the expansion of sales in mainland China. According to channel surveys, even in the low base period of January to June this year, Vitasoy's sales in mainland China still lag behind its main competitors, with a target price lowered from HKD 9.8 to HKD 6.9.
The report states that the company's gross profit expansion in the second half of fiscal year 2024 is significant, reflecting its cautious spending, easing the bank's concerns about the potential increase in uncontrollable operating cost ratios. Looking ahead, the bank believes that there is more confidence in the company's gross profit expansion with the decrease in raw material prices and the improvement of operational efficiency.