According to the news obtained from the CTI APP, Sunart Retail (06808) fell more than 3% and, as of press time, fell 3.5%, to HKD 1.38, with a turnover of 18.17 million Hong Kong dollars.

On the news side, Citigroup recently released research reports that, considering that the market has significantly lowered its profit expectations for the company, it has lowered Sunart Retail's target price from HKD 3.15 to HKD 1.75. Citigroup expects that the company's same-store sales from April to June can achieve low single-digit growth, which is an improvement compared to the decline recorded from January to March. The bank has significantly lowered its net profit forecast for the company's fiscal year 2025 and fiscal year 2026 from RMB 1.188 billion and RMB 1.56 billion, respectively, to RMB 0.356 billion to RMB 0.673 billion, and has also lowered its gross profit forecast.

According to the financial report, Sunart Retail achieved a revenue of RMB 72.567 billion in the fiscal year 2024, a year-on-year decrease of 13.3%; shareholders' attributable losses were RMB 1.605 billion, and the same period of the previous year recorded shareholders' attributable profit of RMB 0.109 billion, a year-on-year turnaround from profit to loss. As of the end of March 31, 2024, the revenue from sales of goods was RMB 69.431 billion, a year-on-year decrease of RMB 11.104 billion with a decrease of 13.8%.