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Citi: Initiates a "shareholding" rating on New Oriental-S, with a target price of HK$66.
JPMorgan released a research report stating that new oriental-S (09901) core business continues to show strong growth, with revenue and operating profit expected to increase by approximately 30% and 40% respectively in the 2025 fiscal year. The bank rates new oriental as 'shareholding' and sets a target price of HK$66. The report points out that new oriental has exceeded its revenue guidance for the past 9 quarters, but the margin of exceeding guidance has narrowed in recent quarters, disappointing investors. In addition, new oriental's profit margin has been below market expectations in the past 3 quarters. JPMorgan noted that new oriental will enter a new quarter.
[Brokerage Focus] bocom intl significantly raises the target price for east buy (01797) by 75.3%, but the impact of short-term investment on profits remains to be observed.
Jinwu Finance | Bocom Intl stated that the operation data of east buy (01797) core live streaming room has recently improved. The return of Xiao Sun to the live streaming room signals a positive indication of the company's operations returning to a normalized state. The bank expects that after the company's financial data bottoms out in the fiscal year 2025, it may gradually return to a stable growth trend. Based on the adjusted net income of 0.5 billion yuan for the fiscal year 2026 and a P/E ratio of 30 times (considering an average of 20 times for domestic consumer goods and 45 times for foreign), the target price has been raised from 8.5 HKD to 14.9 HKD. The short-term impact of investment on profits still needs to be observed, maintaining a neutral outlook.
After nearly a year, "East Little Sun" returns to the live broadcast room. East buy rose more than 4%.
1. What recent changes have occurred in east buy? 2. How is the recent performance of east buy?
The 'longest' november 11 shopping festival-related in history has come to an end! The new platform is changing the e-commerce landscape, with the 'cat and dog' battle turning into cooperation.
①In 2024, the november 11 shopping festival-related promotion ended, and the Tmall gala was discontinued. jd.com and Tmall have shifted from competition to cooperation, and the new platform is changing the e-commerce landscape. ②Since the birth of november 11 shopping festival, it has driven the development of digitization, cloud computing, logistics, etc., and is also the 'best exam room' for businesses to adjust their operation strategies. ③When november 11 shopping festival-related returns to normalcy, e-commerce companies are faced with the challenge of finding the next revolutionary new model with significance.
The longest november 11 shopping festival-related has ended, with the platform's coupon service. Tmall achieved over 589 brands breaking the billion mark, while jd.com's brand transaction volume exceeded 0.017 million, a more than fivefold increase.
This year's november 11 shopping festival-related started 10 days earlier overall, with platforms offering competitive prices and services, good value for money. Tmall's transaction volume exceeded 100 million yuan, a year-on-year increase of 46.5%, setting a new historical record, while jd.com saw transaction volumes from over 30,000 small and medium-sized merchants more than doubling year-on-year. With government subsidies, home appliance consumption took the spotlight on this year's november 11 shopping festival, followed closely by mobile phones, digital products, and outfits. Jd.com reported a 200% year-on-year increase in transaction volumes for 519 home appliance and home furnishing product categories, while Xiaomi announced a total accumulated payment amount breaking 31.9 billion yuan through all channels, setting a new record for Xiaomi's annual major promotions. Over 100 live streaming rooms on Taobao surpassed 100 million yuan in transactions, reaching a historic high; jd.com's live broadcast order
BOCOM Intl: Maintains a 'buy' rating on New Oriental-S, with the target price lowered to 75 Hong Kong dollars.
bocom intl released a research report stating that it has lowered the target price of new oriental-S (09901) to HK$75 and maintained a "buy" rating. Based on the disclosed business data for the first quarter of the fiscal year 2025, adjustments were made to new oriental's profit forecast and valuation. The bank believes that the short-term overall performance growth of the company will still be affected by the uncertainty of the east buy (01797) business, but the education and cultural tourism businesses continue to perform steadily. Although there is still uncertainty in the profit contribution of east buy, it has a relatively small impact on new oriental's overall profit/loss contribution. The bank stated that it maintains a forecast of 31% revenue growth for new oriental in the fiscal year 2025, with adjusted operating profit margin after.
