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Hong Kong stocks fluctuate | Some dining stocks decline, second quarter dining growth continues to weaken, intensified competition keeps the average customer price low.
Some dining stocks fell today, as of press time, Texhong International (09658) fell 5.33%, to 11.72 Hong Kong dollars; Jiumaojiu (09922) fell 4.58%, to 2.29 Hong Kong dollars; Xiabuxiabu (00520) fell 1.11%, to 0.89 Hong Kong dollars; Cafe de Coral H (00341) fell 1.09%, to 8.16 Hong Kong dollars.
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[Brokerage Focus] Zheshang Securities maintains a "shareholding" rating for Tech Sea International (09658) and points out that it has a promising future under the brand advantage and the empowerment of the new supply chain.
Zheshang Research, Zheshang Securities issued a research report stating that in the first half of the year, Te Hai International (09658) achieved revenue of 0.371 billion US dollars (yoy+15%), and the revenue growth was mainly driven by the improvement of operational efficiency and the increase in turnover rate. In the first half of 2024, the net profit attributable to the parent company was -4.58 million US dollars. The company reports in US dollars, and the exchange rate only affects the financial statements and does not reflect actual business operations. If exchange gains and losses are excluded, the company achieved a net profit of approximately 14.88 million US dollars in the first half of 2024, corresponding to a net margin of approximately 4%. Since the second half of 2022, net profit excluding exchange gains and losses has been positive for four consecutive half-years, with impressive performance. The net profit excluding exchange gains and losses.
zheshang: The 'real gold' has emerged in the dining industry, with high-quality leading companies standing out.
From the perspective of the industry, it is expected that the pressure on customer unit price will continue. Combining the monthly net store opening speed on the supply side, it is expected that the high base number issue of dining enterprises above the quota will gradually ease in Q4 2024, and the industry's competition intensification issue still needs time to digest.
Analysts' Top NA Picks: SUPER HI INTERNATIONAL HOLDING LTD. Sponsored ADR (HDL), Astera Labs, Inc. (ALAB)
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