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TUHU Car Repurchase Its 1,374,399 A Shares for About HK$25 Million
TuHuDuo-W: The trustee purchased a total of 1.3743 million Class A shares according to the second phase's initial public offering plan.
Tu Hu-W (09690) announced that from July 19, 2024 to July 23, 2024, the trustee purchased a total of 1.3743 million Class A shares on the Stock Exchange of Hong Kong under the terms and conditions of the second phase of the initial public offering, with funds disbursed from internal resources of the company. The average cost per share of Class A shares is about HKD 18.10.
Tuhu-W (09690): The trustee purchased a total of 1.3743 million Class A shares according to the plan to purchase shares for the first time after the second public offering.
Tuhu-W (09690) announced that from July 19, 2024 to July 23, 2024, it will be entrusted...
Brokerage Soochow Securities maintains a 'buy' rating on Tuhu (09690), expecting its market share to further increase in the first half of the year with revenue growth higher than the large-cap stock market.
Jingu Cai News | Soochow Securities issued a research report stating that Tuhu (09690) further highlights its advantages in product cost performance, coupled with store expansion. The bank expects its 24H1 market share to further increase, with revenue growth higher than the large cap, and the number of stores exceeding 6,310. The bank expects the company's revenue in the first half of 2024 to increase by 10% year-on-year to 7.16 billion yuan, adjusted net income to increase by 56% year-on-year to 0.33 billion yuan, and adjusted net margin to increase by 1.4 percentage points year-on-year to 4.7%. The bank continues to expect that, considering weak demand for car services compared to the bank's expectations, but better-than-expected profitability of the company, the bank maintains the company's 2
Zhongtai Securities: Market development and business structure optimization promote the increase of quantity and profit, initially rate Wutonghua (09690) as a "buy" rating.
As the company accelerates its expansion in second-tier cities and combines with online order conversion driving, the increase in registered users and transaction conversion rate is expected to promote continued revenue growth for the company.
[Brokerage Focus] Goldman Sachs cuts Tuhu's (09690) target price by 7%, but remains optimistic about its medium-term prospects.
Goldman Sachs research reports indicate that the stock price of Tuhu (09690) has fallen by 33% since its peak on May 20, and is now below the level when the bank upgraded the stock rating to 'buy' at the end of February. The recent weak performance is mainly due to the weakened confidence in China's consumption trend. However, the bank remains optimistic about Tuhu's mid-term prospects, believing that Tuhu is still in the early stage of user penetration, with stable growth of online traffic and offline production capacity expansion, which will be a key driver of mid-term revenue growth. The bank expects that the revenue growth in the first half of this year will be lower than expected against the background of weak demand in the car after-sales market,
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