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Is Tingyi (Cayman Islands) Holding Corp. (HKG:322) Trading At A 48% Discount?
[Brokerage Focus] Morgan Stanley: Demand expectations in China's Dining channel are relatively low before the Spring Festival, with differentiated performance across various categories.
Jinwu Financial News | Morgan Stanley recently conducted research on Dealers in northern, eastern, and southern China to understand sales trends before the Spring Festival and goals for 2025. It was found that there are significant differences in market performance across categories, with generally low demand expectations. In terms of Baijiu(Chinese Liquor), the start has been rather weak. Some Dealers of Moutai reported a decline in demand before the Spring Festival of 2025, and non-Flying Moutai series products are facing pricing pressure. However, Flying Moutai remains relatively strong, with differing goals among Dealers in various regions for 2025. For example, a Dealer in the north expects the target for Flying Moutai to remain flat, with double-digit growth for series products. Wuliangye Yibin's target for 2025 is 1.
Analysts Offer Insights on Consumer Goods Companies: China Resources Beer (Holdings) Co (OtherCRHKF) and Tingyi (Cayman Islands) Holding (OtherTCYMF)
【Brokerage Focus】HAITONG SEC maintains a "Buy" rating on TINGYI (00322), Bullish on the company's beverage Business profitability continuing to improve.
Jingwu Financial News | HAITONG SEC released a Research Report stating that TINGYI (00322), as one of the leaders in China’s soft drink Industry, will focus on core categories in 2024, continuously improving innovative flavors and optimizing marketing strategy. The company's beverage Business revenue in the first half of 2024 grew by 1.73% year-on-year, reflecting a relatively gentle increase. However, the bank determines that, benefiting from the overall improvement of the beverage Industry's prosperity since September, the performance of the company's beverage Business is expected to see an improved recovery. The bank indicated that according to related data from Wind, 1) the average price of polyester bottle sheets (East China market) decreased by 2.77% year-on-year in the first half of 2024.
Jefferies Keeps Their Buy Rating on Tingyi (Cayman Islands) Holding (TCYMF)
Jefferies Adjusts Tingyi (Cayman Islands)' Price Target to HK$12.70 From HK$12.32, Keeps at Buy
