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Brokerage Focus: Ping An Securities maintains a 'strongly recommended' rating for Bosideng (03998), bullish on continuous performance growth from the main business of down jackets.
Jingu Finance News | Ping An Securities released a research report stating that Bosideng (03998) will showcase at the "New Life of Everything-China Intangible Cultural Heritage and Contemporary Design Exhibition" in Paris, France from July 6 to July 20. As a global leading down jacket brand, Bosideng will exhibit the unique charm of the combination of Chinese brands and intangible cultural heritage through the exhibition, unfolding a magnificent scroll of Eastern fashion. Bosideng will hold a fashion show during the exhibition with a distinctive Chinese style. Through the fashion show, Bosideng will demonstrate the use of non-heritage skills such as weaving and embroidery, integrating ancient totems, auspicious buckles and other traditional elements into down jacket designs, showcasing traditional Chinese culture.
[Brokerage Focus] Swhy maintains a 'buy' rating for Bosideng (03998), and expects that the shareholding reduction by shareholders will not change the long-term growth trend.
According to the research report issued by Shenwan Hongyuan, Bosideng (03998) announced that Yingxin International, indirectly wholly owned by the founder of the group, the chairman of the board of directors and the controlling shareholder, Mr. Gao Dekang, has entered into a block trade agreement with J.P.Morgan Securities (Asia Pacific) Limited, under which independent buyers will be allocated at a price of HKD 4.31 per share, accounting for approximately 3.64% of the total number of issued shares, based on the existing shares of 0.4 billion. It is expected that the allocation will be completed on July 5, 2024. The bank believes that the company has a long-term growth prospect.
[Brokerage Focus] CMB International: Maintains neutral view on optional consumer for the next three months.
Jingu Finance | Zhongyin International said that its view on optional consumption for the next three months remains neutral. Overall, the consumption environment in June has started to weaken again compared to April and May, and same-store sales are still declining. Among industries, only the clothing industry met expectations, while the performance of home appliances, sporting goods, travel and dining were all lower than expected. However, based on various forward-looking indicators such as employment, savings willingness and consumption habits, the bank is slightly concerned about the outlook for the third quarter and the second half of the year. Currently, it recommends focusing on the clothing industry and high dividend targets. From a medium and long-term perspective, because valuations are still relatively low, companies with relatively high competitiveness can still be collected. Recommended.
Open source securities: it is expected that product iteration, category innovation, and channel optimization will continue to drive the growth of Bosideng (03998), maintaining a "buy" rating.
Open source securities expects Bosideng (03998) to achieve net income attributable to shareholders of 3.62/4.17/4.77 billion yuan from 2025 to 2027.
[Brokerage Focus] Huaxi Securities maintains a 'buy' rating on Bosideng (03998), with shareholder placement shares not changing the company's long-term development trend.
Jingu Caixin | Huaxi Securities issued a research report stating that the trustee, Yinxin International Investment, indirectly wholly owned by Gao Dekang, founder of Bosideng (03998) Group, chairman of the board of directors and controlling shareholder, has notified that it has entered into a bulk trade agreement and plans to sell 400 million shares of the company held at a price of HKD 4.31 per share. The offering price is 9.6% lower than yesterday's closing price of HKD 4.77 per share. The proceeds of the offering will be mainly used for the seller's funding needs and charitable causes. The company's stock price has been affected by the offering and has experienced short-term fluctuations, but the bank still holds a bullish view on the company's development, believing that the company will maintain its high growth trend in FY24.
Maintain a 'buy' rating for Bosideng with a target price of HKD 5.9 by Anxin International.
ANXIN International released a research report stating that it maintains a 'buy' rating for Bosideng (03998), predicting that EPS for 2025-2027 fiscal years will be 0.32/0.37/0.42 yuan with a target price of 5.9 Hong Kong dollars. The company continues to focus on its main channel and brand, while steadily developing its core business, continuously launching innovative product series, expanding the brand's coverage, and the continuous launch of new products is expected to continue to drive performance growth. As of March 31, 2024, the group's annual revenue reached 23.21 billion yuan, an increase of 38.4% year-on-year, and the net income attributable to owners of the parent company was 3.07 billion yuan, an increase of 4% year-on-year.
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