Goldman Sachs issued a research report expecting that TINGYI (00322.HK) +0.020 (+0.196%) Short selling $80.87M; Ratio 40.666% 's 1H24 sales will rise 1% YoY to RMB41.3 billion, and net profit will grow 10% YoY to RMB1.8 billion. Gross profit margin. operating profit are also expected to hike by 0.2/ 0.4 ppts YoY respectively.
For U-PRESID CHINA (00220.HK) +0.100 (+1.395%) Short selling $6.55M; Ratio 11.978% , Goldman Sachs forecasted that 1H24 sales will climb 5% to RMB15.3 billion, and net profit will rally 11% YoY to RMB970 million, with gross profit margin and operating profit expected to rise 3 ppts each.
Related NewsCICC Elevates TINGYI (00322.HK) TP to $12, Expects 1H24 Margin to Improve
Goldman Sachs raised its target prices for TINGYI/ U-PRESID CHINA to $10.2/ $8.3 each. The broker kept rating at Neutral on TINGYI and reiterated rating at Buy for U-PRESID CHINA.
Goldman Sachs was positive on the 2H24 performance of the two companies, and expected the beverage business of TINGYI/ U-PRESID CHINA to rebound to 7% / 12% YoY growth in 2H24, while the instant noodle business will post 3%/ 6% YoY growth each on a low base.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-05 16:25.)
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