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[Brokerage Focus] Huaxi maintains TUHU-W (09690) 'Buy' rating, with the company's profit expected to grow by 30% in 2024 and an acceleration in channel expansion.
Jinwu Financial News | Huaxi released a research report stating that Tuhu's performance in 2024 is expected to show growth in both revenue and profit, with total revenue of 14.759 billion yuan, an increase of 8.5% year-on-year; the adjusted net income reached 0.624 billion yuan, a significant increase of 29.7% year-on-year. Although the growth rate slightly slowed in the second half of the year, the company has consolidated its leading position in the industry through improvements in gross margin, channel deepening, and service category expansion. From the perspective of core operating indicators, Tuhu's gross margin improved by 0.7 percentage points to 25.4% for the year, mainly due to the increase in the proportion of its own brands and supply chain optimization. In terms of channels, the total number of factory stores reached 6,874.
There May Be Some Bright Spots In TUHU Car's (HKG:9690) Earnings
Hong Kong stocks are moving | TUHU-W (09690) rose over 4% against the trend as the company's store expansion shows initial effectiveness. Institutions indicate that its revenue growth is improving.
TUHU-W (09690) rose more than 4% against the market trend, as of the report, it increased by 3.3%, reaching HKD 18.76, with a trading volume of HKD 9.6762 million.
TUHU-W (9690.HK) demonstrates counter-cyclical resilience, highlighting growth potential under multi-dimensional resonance.
In 2024, the company's revenue increased by 8.5% year-on-year to 14.86 billion yuan.
Morgan Stanley: Set the Target Price for TUHU-W (09690) at 22 Hong Kong dollars, rating "Shareholding".
The bank stated that the key to Easy Car's success may lie in its ability to acquire customers and gain market share in an economical and effective manner.
Hong Kong stocks moving | TUHU-W (09690) rose over 3% after earnings, with annual adjusted net income increasing by 29.7% year-on-year, and the company has sufficient capital reserves.
TUHU-W (09690) rose over 3% after earnings, as of the time of writing, it is up 2.2%, priced at 18.56 HKD, with a transaction amount of 14.2567 million HKD.
