Goldman Sachs: Maintains "Neutral" rating on Man Wah Holdings (01999.HK), target price lowered to HK$3

Zhito Finance APP has learned that Goldman Sachs released a research report stating that Man Wah Holdings (01999.HK) issued a profit warning for the first half of fiscal 2027 ending at the end of September, far below expectations. The company expects net profit for the period to fall 70% to 90% year-on-year, compared with the bank's previous forecast of a 31% year-on-year decline. The bank lowered its earnings per share forecasts for Man Wah for fiscal 2027 to 2029 by 15% to 35%, cut its target price from HK$3.5 to HK$3, and maintained a "Neutral" rating.