China Lilang (01234) fell nearly 3%, and as of press time, fell 2.73% to HKD 3.92, with a turnover of HKD 4.2412 million.
According to the Intelligent Financial News app, China Lilang (01234) fell nearly 3%, and as of press time, fell 2.73% to HKD 3.92, with a turnover of HKD 4.2412 million.
On the news front, China Lilang recently released its 2024 mid-term results, with revenue of RMB 1.6 billion, up 7.3% year-on-year; profit of RMB 0.28 billion, up 3.6% year-on-year; gross margin down 1.8 percentage points year-on-year to 50.0%; intending to distribute a mid-term dividend of HKD 0.13 per share and a special mid-term dividend of HKD 0.05 per share. In addition, the management has revised its annual retail growth target from 15% to 10%. In terms of stores, the annual target of new store openings has been revised from 100-200 to 50-100, with the new stores mainly in shopping malls and outlet stores.
Guosen Securities research report pointed out that the company operates steadily with high dividends and still has great growth potential in the future new retail and light business. Although the consumption environment was weak in the first half of the year, the company still achieved positive growth in revenue. The main reason for the slight decline in profit margin was the impact of channel reforms and changes in product mix, while the company has long maintained a stable and high level of dividend payout. Due to the decline in consumer spending this year, the bank slightly lowered its profit forecast. Based on the adjusted profit forecast, the target price was slightly downgraded to HKD 4.6-5.2 (compared to the previous HKD 5.2-5.5).