Macquarie: VITASOY INT'L (00345) "Outperform" rating, target price lowered to 6.9 Hong Kong dollars.

Macquarie released a research report stating that VITASOY INT'L (00345) is rated as "outperforming the market," with profit forecasts for the fiscal years 2025 to 2027 being reduced by 38%, 38%, and 30% respectively to account for adverse weather conditions, market competition, and operational deleveraging factors. The target price for Vitasoy has been lowered by 27% to 6.9 Hong Kong dollars. The report states that although the beverage market is challenging, it is still expected that VITASOY INT'L's revenue in the first half of the 2025 fiscal year will increase by 2.2%, and operating profit will increase by 9.3% year-on-year. The group has been unable to escape the impact of adverse weather conditions and market competition in the mainland market, but the performance in the Hong Kong market remains resilient.