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China Foods Limited Set for Key August Board Meeting
China Foods (00506.HK) held a board of directors meeting on August 28th to approve the interim performance.
China Foods (00506.HK) announced that it will hold a board of directors meeting on August 28, 2024 (Wednesday) to approve the interim performance of the company and its subsidiaries for the six months ending June 30, 2024, as well as consider the distribution of interim dividends (if any).
CHINA FOODS: DATE OF BOARD MEETING
Soochow Securities: CSI SW food & beverage index significantly reduced its position, with valuation falling into high dividend camp.
Hold positions for csi sws food & beverage index actively managed equity funds in Q2 24 have dropped to a new low since 2018.
China Foods Limited Appoints New Auditor
Haitong Int'l: Maintains 'outperform' rating for China Foods, target price of 3.54 HKD.
Haitong International released a research report stating that China Foods (00506) maintains its 'Outperform' rating with a target price of HKD 3.54. Against the backdrop of weak macro consumption and sluggish demand for carbonated products with a high base, the company's sales have been affected to some extent, and market share has declined, leading to certain pressure on revenue. In addition, according to Haitong International's cost weekly report, the raw material costs (PET, sugar, etc.) of the soft drinks sector can be controlled, and it is expected that the company's gross margin will remain basically the same year on year in 2024. Haitong International's main opinions are as follows: the carbonated beverage business is under temporary pressure, and the company's revenue is expected to fall by a high single digit in 24H1. Channel adjustment.
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