Movement Alert｜EAST BUY Rises 5.04% in Regular Trading, Former CEO New Venture Weak Debut Eases Competitive Concerns

Market Focus08-03 09:36

On August 3, EAST BUY rose 5.04% in regular trading, trading at 22.64 HKD/share, with turnover of approximately 44.54 million HKD.

On the news front, former CEO Sun Dongxu's jointly founded livestream venture \"Beautiful Tomorrow\" debuted on August 2. While online viewership exceeded 100,000 within 30 minutes and briefly topped Douyin's e-commerce rankings, estimated sales reached only 2.5 to 5 million yuan — a negligible figure compared to EAST BUY's projected full-year revenue of 56 to 58 billion yuan. The market's prior concern over competitive diversion, which had triggered a 7% selloff in mid-July, has materially eased.

The rebound is further underpinned by the company's positive profit alert issued on July 23, forecasting fiscal year net profit of 5.2 to 5.5 billion yuan, representing year-over-year growth exceeding 85 times versus 6 million yuan in the prior fiscal year. Citi has reiterated its \"Buy\" rating with a 33 HKD target price, while Goldman Sachs maintains a \"Sell\" rating with a 13.6 HKD target, citing elevated valuations relative to growth prospects.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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