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[Brokerage Focus] China Post Securities maintains a Buy rating on Tuhu (09690), stating that it is expected to further enhance customer loyalty and increase market share.
Jinwu Finance News | According to Zhongyou Securities Research, as of the 24th, TuHu (09690) had a total of 6,311 stores, an increase of 402 stores compared to the end of 2023; considering the acceleration of new store openings in the second half of the year, it is expected that 500-600 new stores will be opened in H2, bringing the total number of stores to approximately 6,900 by the end of 2024. From the 2024 franchise policy, the company will focus on expanding stores in lower-tier cities, combined with a trend toward more rational Consumer spending. The market share of its own controllable products that offer cost-effective advantages is expected to increase rapidly, thereby driving profitability. Aftermarket maintenance services, while being less frequent consumption, have a high sensitivity to High Stock Price.
[Nie Renjiao Technology Field] Nie Zhenbang: Observing the 'descending triangle' with light short positions, a monthly profit of several percent is not out of the question.
Jinwu Financial News | Last time, the 'descending triangle' pattern was discussed. Considering the desire not to make the article too long, today's discussion will continue. It was not mentioned in the previous article that for investors who have already established short positions, there is no need to exit once this pattern appears. Instead, it is important to consider at what point to take profits after the support level is broken, which requires calculating the 'measured decline.' This pattern's outline is drawn with two auxiliary lines; the upper line is slanted, descending from left to right. The lower line is a horizontal line, reflecting that during the consolidation period, the stock index or individual stocks tend to show similar low levels at corresponding positions. Therefore, the 'measured decline' is precisely the vertical distance between the two auxiliary lines; however, since the upper line is not horizontal, so
Short-term pressure does not change the long-term growth logic; how should the value of TUHU-W (09690.HK) be viewed correctly?
On January 22, Tuhu's stock price was affected, with an intraday decline exceeding 16%, and a closing drop of 10.15%. The downward trend continued the next day, with a cumulative decline of over 11% over two days. From the news perspective, this was mainly triggered by a Research Report from Morgan Stanley. The report indicated that the mainland auto aftermarket is weak, and Tuhu's profit levels may decline, leading the bank to lower Tuhu's profit forecast for 2024 to 2026 by 3% to 14%, and reduce the Target Price from HKD 24 to HKD 22. From a data standpoint, it is believed that the market has reacted excessively. Even with a Target Price of HKD 22, compared to 21.
[Brokerage Focus] BOCOM INTL maintains a Buy rating for Tuhu (09690), indicating that short-term profit margins may fluctuate due to changes in pricing strategy.
Jinwu Financial News | BOCOM INTL has released a research report indicating that Tuhu (09690) is expected to have a year-on-year revenue increase of 8% in the second half of 2024 (compared to 9% in the first half), slightly better than the bank's previous estimate of 7%. It is anticipated that the company will achieve double-digit growth in order volume through effective pricing strategies and expand market share. It is expected that the adjusted net income will be 0.25 billion yuan (RMB, the same below), with a net profit margin of 3.3%, a year-on-year decrease of 0.5 percentage points, and a slight decline in gross profit margin compared to last year, partially offset by a decrease in operating costs. The year-on-year decline in gross profit margin is mainly due to the company's Global Strategy to lower prices to better meet current Consumer habits, which short-term offsets the self-supplied goods.
Tuhu - W [09690] is currently priced at 15.36 Hong Kong dollars, down by 10.39%.
As of 09:31, Tuhu - W [09690] reported at 15.36 HKD, down 1.78 HKD or 10.39% from yesterday's closing price of 17.14 HKD, with a transaction volume of 5.0069 million HKD. Today's highest price is 17.16 HKD, the lowest price is 15.4 HKD. Based on yesterday's closing price, the 10-day average price is 17.38 HKD, the 50-day average price is 20.04 HKD, and the current PE is 0.75 times, with a 14-day strength index of 36.65.
TUHU Car (HKG:9690) Is Experiencing Growth In Returns On Capital
