Yamato: Eastern Selection (01797.HK) GMV Improvement Rises to "Outperform" Rating

According to the Zhitong Finance APP, Daiwa Securities released a report stating that the total gross merchandise volume (GMV) of Dongfang Zhenxuan (01797.HK) in the first half of the 2025 fiscal year was 4.8 billion yuan, with the "Yuhui Tongxing" channel led by Dong Yuhui contributing a quarter of the total. However, after Dong Yuhui's departure, the bank noticed that Dongfang Zhenxuan's GMV had rebounded with the expansion of sales channels. Based on the GMV recovery, the bank upgraded Dongfang Zhenxuan's rating from "underperform" to "outperform", raised the target price from 11 Hong Kong dollars to 13.5 Hong Kong dollars, and lowered its revenue forecast for the current and next fiscal years by 11% to 18% and its earnings per share forecast by 34% to 77%.