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高盛:维持东方甄选(01797)“中性”评级 目标价调低至15.9港元

Goldman Sachs: Maintains a "Neutral" rating for East Buy (01797), with target price lowered to HKD 15.9.

Zhitong Finance ·  Jun 27 11:43

In the second half of fiscal year 2024 (December 2023 to May 2024), Eastbuy's self-operated product GMV exceeded 3.6 billion yuan.

According to the Zhitong Finance app, Goldman Sachs released a research report stating that it lowered Eastbuy's (01797) target price from HKD 18.4 to HKD 15.9, a decrease of 13.6%, and slightly raised its profit forecast for 2025 by 0.5%, mainly due to the net income in the second half of fiscal year 2024 being better than expected. However, due to relatively weak consumption, the company's sales growth expectations have been lowered, and the rating is maintained as "neutral."

Goldman Sachs stated that on June 19, Eastbuy held an event for its own brand products in Beijing, announcing that the company's self-operated product GMV surpassed 3.6 billion yuan in the second half of fiscal year 2024 (December 2023 to May 2024), a YoY increase of 108% and a 74% increase compared to the first half of the year, which exceeded Goldman Sachs' expectations by 8%, possibly due to its own application's GMV being higher than expected. The number of its own brand SKUs reached 400 units in May (264 units as of November 2023).

The translation is provided by third-party software.


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