Intelligent Finance APP learned that Zheshang Securities released a research report stating that considering the comprehensive layout of software and hardware facilities and internal growth-driven factors, it is expected that Xiamen Xiangyu (600057.SH) will have a net profit attributable to the parent company of 1.211 billion yuan, 1.435 billion yuan, and 1.683 billion yuan from 2020 to 2022, with year-on-year increases of 9.50%, 18.46%, and 17.35%, respectively, corresponding to EPS of 0.56 yuan, 0.66 yuan, and 0.78 yuan. From a growth perspective, the company's compound annual growth rate of net profit attributable to the parent company from 2020 to 2022 is 17.90%, and the PEG of the corresponding 2021E PE is 0.52, which is significantly lower than the valuation relative to the growth. Zheshang Securities believes that the reasonable valuation of the company is around 15 times PE, the reasonable market cap of the 2021 net profit attributable to the parent company is about 21.5 billion yuan, and the relative price still has about 58% room for growth. The first coverage is given a "buy" rating.$SUPER HI (09658.HK)$The afternoon gains expanded to over 20%. As of the time of writing, it is up 20.21%, trading at 16.06 Hong Kong dollars, with a transaction volume of 0.132 billion Hong Kong dollars.

In terms of news, super hi recently released its unaudited financial performance for the third quarter of 2024, with revenue of 0.199 billion dollars, a year-on-year increase of 14.6%; profit attributable to company owners was 37.724 million dollars, compared to a loss of 1.39 million dollars in the same period last year, achieving a turnaround. During the period, the overall average table turnover rate was 3.8 times/day, compared to 3.7 times/day in the same period of 2023. Total foot traffic exceeded 7.4 million, an increase of 4.2% compared to 7.1 million in the same period of 2023. Same-store sales growth was 5.6%.

Minsheng Securities pointed out that the company's table turnover rate steadily increased, relying on super hi's brand influence, refined management philosophy, and localized innovation-driven strategy, with ample room for expansion in overseas markets. htsc believes that the peak season in the fourth quarter is expected to continue the high turnover performance. The company is actively implementing a multi-brand plan, cultivating single-store models for noodle shops, halal hot pot, and other new categories, with considerable medium-to-long-term growth potential.

Editor/ping