CICC: Initiate coverage of Small Garden with an "outperform" rating and a target price of HK$11.6.

China Gold released a research report stating that it is giving a "outperform" rating to Little Garden for the first time, with a target price of 11.6 Hong Kong dollars, equivalent to a forecast price-to-earnings ratio of 15 times for this year. The bank predicts that the earnings per share of Little Garden from 2025 to 2027 will be 0.61 yuan, 0.68 yuan, and 0.8 yuan respectively, suggesting a compound annual growth rate of profit of about 15% during that period.