ZHOU HEI YA (01458) has received positive ratings from multiple securities firms, with continued optimism on business improvements and channel breakthroughs.

Recently, ZHOU HEI YA (01458) released its 2025 performance announcement, reporting an operating income of 2.526 billion yuan, a year-on-year increase of 3.5%; net profit of 157 million yuan, a nearly 60% year-on-year increase, achieving double growth in revenue and net profit. After the release of the performance, multiple institutions including Barclays, Citigroup, CICC, CMSC, and Xiachai Securities successively released research reports, maintaining a positive rating on the company; among them, Barclays maintained a "high confidence outperform market" rating and raised the target price from 2.1 Hong Kong dollars to 2.3 Hong Kong dollars. Xiachai Securities covered ZHOU HEI YA for the first time and gave it a "buy" rating. Overall, multiple institutions generally acknowledged the positive signals released by ZHOU HEI YA in terms of store operation quality improvement, channel business expansion, innovative business layout, and shareholder returns. The dual-wheel drive shows results, with double growth in revenue and net profit in 2025 In 2025, against the backdrop of adjustments in the consumer market structure and intensified industry competition, ZHOU HEI YA continued to promote operational quality improvement and efficiency enhancement around the "store + channel" dual-wheel drive strategy. On the store end, the company simultaneously promoted operational quality improvement from various aspects such as expanding operation scenarios, deepening member operations, optimizing employee incentives, and adjusting store structures, driving continuous improvement in overall operational quality. The annual report shows that as of December 31, 2025, ZHOU HEI YA had 3,019 stores, with a year-on-year increase in monthly average sales per store of 13.6%. In the second half of the year, the total number of stores resumed net growth, further enhancing store operation resilience. The channel end has become a new important growth point for ZHOU HEI YA. In 2025, ZHOU HEI YA continued to expand various channels such as member stores, bulk superma...