Glonghui November 12 | Yuyuan Group (0551.HK) rose more than 5% to HK$17.28 during the intraday session today. Yuyuan Group's revenue for the first three quarters of 2024 was about 6.075 billion US dollars, up 1.48% year on year; net profit attributable to company owners was about 0.3317 billion US dollars, up 140.90% year on year. After Yuyuan Group announced its third-quarter results, Citi raised its 2024-2026 earnings estimate by 15 to 17%, raised its target price by 16%, from HK$17.5 to HK$20.3, and reaffirmed its “buy” rating. It expects a dividend rate of around 8% this year. Citigroup said that the nine-month results of the head of state of China showed that the expansion trend in gross margin of its footwear manufacturing business (MFG) was better than expected. Meanwhile, the Group's manufacturing turnover increased by 21.3% year-on-year in October, and slowed from month to month. However, its growth rate is still higher than the average for the first ten months. (Gelonghui)