Morgan Stanley: Maintains "overweight" rating on TONGRENTANGCM (03613) with a target price lowered to HKD 12.8

13:36 12/09/2024

Daiwa Securities downgrades Tong Ren Tang Guoyao (03613) earnings forecast for 2024-2030 by 6%-10%.

Morgan Stanley released a research report stating that following the announcement of TONGRENTANGCM (03613) first half performance in 2024, due to a decrease in sales, Morgan Stanley has lowered its profit forecast for the years 2024-2030 by 6%-10%. At the same time, the target price and scenario value of the company have decreased by 5%-8%. Specifically, the target price of TONGRENTANGCM has decreased by 5%, from HK$13.5 to HK$12.8, while still maintaining a "buy" rating.

PLATEAU TL (08402) announced its annual performance with a net loss of 3.6579 million Singapore dollars for shareholders, an increase of 237.45% from the previous year.

GLORY FLAME (08059) released its annual performance report, reporting a net loss of HKD 15.409 million for shareholders, a 24.22% increase compared to the previous year.

GUDOU HLDGS (08308) released its annual performance, with a net loss attributable to shareholders of 61.932 million yuan, an increase of 21.89% year-on-year.

PLATEAU TL (08402) announced its annual performance with a net loss of 3.6579 million Singapore dollars for shareholders, an increase of 237.45% from the previous year.

GLORY FLAME (08059) released its annual performance report, reporting a net loss of HKD 15.409 million for shareholders, a 24.22% increase compared to the previous year.

GUDOU HLDGS (08308) released its annual performance, with a net loss attributable to shareholders of 61.932 million yuan, an increase of 21.89% year-on-year.