此外，建银国际将敏华2025至2026财年净利预测下调12%至14%，主要反映对敏华中国内地市场收入预测被下调。不过该行同时认为，敏华在充满挑战的上半财年再次展现其业务韧性，并抓住海外机遇，实现高利润率及稳定利润，预计一旦整体消费改善，公司加强在中国内地分销的努力将得到回报。CCB International lowered Minhua's net profit forecast for the 2025-2026 fiscal year by 12% to 14%.
The Zhitong Finance App learned that CCB International released a research report stating that it maintained Minhua Holdings (01999)'s “outperforming the market” rating and lowered the target price from HK$7.6 to HK$6.5.
According to the report, Minhua's profit for the first half of the 2025 fiscal year ended at the end of September was largely flat, mainly due to overseas growth and profit margin expansion. The bank also stated that it still expects Minhua's sales in mainland China to gradually stabilize in the second half of fiscal year 2025 and fiscal year 2026.
Furthermore, CCB International lowered Minhua's net profit forecast for the 2025-2026 fiscal year by 12% to 14%, mainly reflecting the reduction in Minhua's revenue forecast for the mainland China market. However, the bank also believes that during the challenging first half of the fiscal year, Minhua once again demonstrated its business resilience and seized overseas opportunities to achieve high profit margins and stable profits. It is expected that once overall consumption improves, the company's efforts to strengthen distribution in mainland China will be rewarded.
