Goldman Sachs: Slightly lowered the target price of Unifi Enterprise to 9 Hong Kong dollars, maintaining a cautious outlook on the company's prospects next year.

Goldman Sachs released a research report stating that Uni-President Enterprises' revenue in the third quarter of China remained stable, with food business growing in the low to mid single digits, beverage business decreasing in the low to mid single digits, and OEM production business continuing to grow by a triple-digit percentage year on year. Management stated that the company is still working on destocking beverage products in October, while noodle performance remains on track. Despite weak consumer demand and intense competition, the company remains cautiously optimistic about the fourth quarter and maintains the target of 6 to 8% sales growth for the full year, believing that continued gross margin expansion and improved spending ratio visibility in the fourth quarter. Looking ahead, due to continued fierce competition, the bank maintains caution about the company's prospects for next year, forecasting a sales growth of 6% and lowering the target price from 9.3 Hong Kong dollars to 9 Hong Kong dollars, while maintaining a "neutral" rating.