HK Stock Market Move | SUNART RETAIL (06808) is currently down nearly 6% with weak performance in offline business, and annual revenue has dropped by 11% compared to the previous year.

SUNART RETAIL (06808) is currently down nearly 6%, as of the time of writing, down 5.96% at 1.34 Hong Kong dollars, with a turnover of 98.717 million Hong Kong dollars. On the news front, SUNART RETAIL previously released its annual performance for the year ending in March. The company achieved a revenue of 63.442 billion yuan for the year, a year-on-year decrease of 11.3%. Due to factors such as the decrease in income, contraction of gross profit, asset impairment, and increased tax burden, SUNART RETAIL reported a net loss attributable to shareholders of 319 million yuan for this fiscal year, compared to a profit of 405 million yuan in the same period of the previous fiscal year. It is worth noting that SUNART RETAIL has changed CEOs four times in the past two years. Macquarie released a research report stating that offline retail is still the main drag on same-store sales growth and revenue for SUNART RETAIL. The company recorded a net loss of 196 million yuan in the second half of the 2026 fiscal year ending in March, which met the earlier profit warning. The bank believes that SUNART RETAIL lacks strong revenue growth momentum, and profit recovery mainly depends on cost savings. Macquarie holds a conservative view on SUNART RETAIL's prospects, predicting a low single-digit decline in revenue for the 2027 fiscal year, with the company targeting break-even to slight profitability.