Huachuang Securities: Maintains a "buy" rating on Dashen Corporation (01405.HK) with a target price of HK$109.08.

According to the Zhitong Finance APP, Huachuang Securities released a research report stating that considering the resilience demonstrated by Dashi Corporation (01405.HK) in the face of pressure on its store model, combined with the continuous rapid growth in profits in the coming years, it is expected that the company's net profit for 2025-2027 will be 141/247/345 million yuan (previously 225/328 million yuan for 2025-2026), with adjusted net profits of 191/292/385 million yuan. Referring to comparable companies, a 45x PE ratio is given for the adjusted net profit of 2026, with a target price of 109.08 Hong Kong dollars, and maintaining a "recommended" rating.