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Jefferies Adjusts Yihai International Holding's Price Target to HK$13.60 From HK$13, Keeps at Hold
Citi: Maintains YIHAI INTL "Buy" rating, Target Price lowered to 16.4 Hong Kong dollars.
Citi issued a Research Report stating that it maintains a "Buy" rating for YIHAI INTL (01579), lowers the 2025 net profit forecast by 1.5%, and keeps the 2026 net profit forecast unchanged, while the revenue forecast decreases by 2%, offset by an increase in gross margin due to an improved business mix. The Target Price is lowered from HKD 16.7 to HKD 16.4. The bank expects YIHAI INTL's net profit to decline by 12% year-on-year last year, recover by 21%, and continue to grow by 10% in 2026. After excluding Forex losses and one-time prepaid tax items, the expected changes in core net profit for each year are projected to be 0%, an increase of 10%, and an increase of 10% respectively.
[Brokerage Focus] Citigroup gives YIHAI INTL (01579) a "Buy" rating. Related party sales are sluggish while third-party sales are growing strongly.
Financial News | Citibank's research report on YIHAI INTL (01579) shows that the company is experiencing strong growth in third-party sales while sales to related parties are weak. In terms of third-party sales, management expects a double-digit growth in 2024, close to the 12% growth rate of the first half of 2024, which aligns with Citibank's expectations. Different categories show varied performance, with Chinese mixed condiments exhibiting the most significant growth, mainly due to the rapid expansion of the B-end business, which is expected to double year-on-year in both the first and second halves of 2024, reaching 0.2 billion yuan for the whole year, approximately accounting for 25% of the category's sales.
Earnings Growth of 1.1% Over 5 Years Hasn't Been Enough to Translate Into Positive Returns for Yihai International Holding (HKG:1579) Shareholders
HAIDILAO donated 1.5 million yuan in cash and materials to assist the earthquake disaster area in Tibet's Shigatse.
Sina Technology reported on the evening of January 10 that a 6.8 magnitude earthquake recently occurred in Dingri County, Shigatse City, Tibet. On January 10, HAIDILAO, together with YIHAI INTL, donated 1.5 million yuan in goods to the earthquake-stricken area in Shigatse through the China Rural Development Foundation, aimed at supporting rescue efforts, temporary resettlement, and post-disaster reconstruction in the affected regions. HAIDILAO stated that it will continue to monitor the progress of disaster relief efforts and jointly assist the Shigatse disaster area to overcome difficulties and rebuild homes.
Hong Kong stock movement | YIHAI INTL (01579) rebounded by over 3% as the group benefits from overseas Business expansion and will aim for 2B and 2C Business in the future.
YIHAI INTL (01579) rebounded over 3%, as of the time of writing, up 3.3%, at HKD 13.16, with a trading volume of HKD 28.8928 million.
