Daiwa Securities has lowered its profit forecast for China Traditional Chinese Medicine (00570) for the years 2024 to 2030 by 10% to 14%.
According to the Zhìtōng Finance app, Daiwa Securities released a research report stating that following the group purchasing price reduction in the first half of the year, considering the recent monthly trend, it will lower the profit forecast for China Traditional Chinese Medicine (00570) for the years 2024 to 2030 by 10% to 14%. The reason is that the sales and gross margin forecast for formula granules have been downgraded, and the target price has been lowered from HKD 5.4 to HKD 4.9, with a rating of "shareholding."