Sunart Retail (06808) is now down more than 4%. As of press time, it has fallen by 3.76% to HKD 1.28, with a turnover of HKD 2.8098 million.
According to the Wisdom Finance APP, Sunart Retail (06808) is now down more than 4%. As of press time, it has fallen by 3.76% to HKD 1.28, with a turnover of HKD 2.8098 million.
On the news side, in early June of this year, some media reported that the official account, mini program and other channels of Sunart Retail's community supermarket brand "Xiaorunfa" have recently stopped service, and it is also unable to view the store list. Sunart Retail responded that the Xiaorunfa business is currently under adjustment, but the specific plan has not yet been fully determined.
Citigroup recently released a research report, considering that the market has significantly lowered its profit expectations for the company, and has reduced Sunart Retail's target price from HKD 3.15 to HKD 1.75. The bank expects that same-store sales growth from April to June can be recorded at a low-single-digit rate, which is slightly better than the decline recorded from January to March. The bank lowered the company's net profit forecast for the fiscal year 2025 and 2026 from RMB 1.188 billion and RMB 1.56 billion to RMB 0.356 billion to 0.673 billion, while also lowering its gross profit forecast.