Goldman Sachs published a research report indicating that Want Want China (00151.HK) mid-term sales as of the end of September fell short of expectations, due to lower-than-expected sales of snacks and flavored milk, while the gross margin and operating profit margin were generally in line with expectations. During the period, despite weak revenue growth and a higher ratio of selling and administrative expenses, the group's net profit margin was still generally in line with expectations.

Goldman Sachs stated that due to Want Want's mid-term performance not meeting expectations, along with factors such as potential increases in raw material costs leading to lower profit margins and lower prices due to competition, it is believed that channel restructuring has affected sales of branded snacks. Therefore, the firm has lowered the group's earnings forecast for the fiscal years 2024 to 2026 by approximately 9%, and the target price has been cut from 3.9 yuan to 3.6 yuan, maintaining a 'sell' rating.