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<Research>UOB Kay Hian Chops CHINA FEIHE (06186.HK) TP to $6.8 as 2024 Results Miss
Recommend 4 Positive 4 Negative 2 |
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CHINA FEIHE (06186.HK) delivered weaker-than-expected 2024 results, mainly due to a reduction in government subsidies and higher selling expenses in 2H24, UOB Kay Hian released a research report saying. The Company expected revenue growth to accelerate this year, supported by the launch of Zhuorui and new infant formula products. However, gross profit margin is expected to improve marginally this year as market competition remains intense. Government subsidies will remain broadly stable this year compared to 2024. Therefore, the broker kept rating at Buy, and chopped its target price by 11% to $6.8. AAStocks Financial News |
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