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East Buy (01797.HK) will hold a board of directors meeting on August 23 to approve the full-year performance.
East Buy (01797.HK) announced that the board of directors meeting will be held on August 23, 2024 to consider and approve the full-year performance of the company and its subsidiaries for the fiscal year ending May 31, 2024, and publication thereof, as well as to consider the announcement and distribution of final dividends (if any).
EAST BUY: NOTICE OF BOARD MEETING
Trending Industry Today: BESTSTUDY EDU Leads Losses In Online Education Stocks
Hong Kong stocks surge: East Buy (01797) rises more than 6%, Xinjiang special live broadcast with impressive performance, and the July Douyin sales champion list returns to the top ten.
East Buy (01797) rose more than 6%, as of press time, up 6.37% to HKD 11.02, with a turnover of HKD 83.3142 million.
Daiwa: Reaffirms 'buy' rating on New Oriental-S, with a target price of HKD 78.
Daiwa published a research report stating that it reiterated its 'buy' rating on New Oriental-S (09901) and estimated that its education business operating profit margin will expand in the 2025 fiscal year, which can offset the impact of the decline in East Buy's profits. The revenue forecast for the 2025-2026 fiscal years was lowered by 3% to 5%, and the earnings per share forecast for the 2025 fiscal year was lowered by 2%. The target price was maintained at HK$78. For the fourth quarter of the company's 2024 fiscal year, the non-GAAP operating profit was disappointing, 47% lower than the market's expectations, mainly due to East Buy's expenses, faster-than-expected expansion of the group, and one-time
Daiwa: Maintains Buy rating on New Oriental-S, with a target price of HKD 78.
Daiwa released a research report stating that it maintains a "buy" rating on new oriental-s(09901), lowers revenue forecast for fiscal year 2025-26 by 3% to 5%, and lowers earnings per share forecast for fiscal year 2025 by 2%, due to the expected lower commodity trade GMV of East Buy, with a target price of HKD 78. The report pointed out that new Oriental announced its Q4 results for fiscal year 2024, with non-GAAP operating profits lower than market expectations by 47%, disappointing, mainly due to excessive spending on East Buy and faster-than-expected expansion of the group, as well as one-off compensation. The group forecasts a 3% year-on-year increase in Q1 revenue for fiscal year 2025.
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