GIANT BIOGENE (02367) dropped nearly 4%, declining 3.86% to HK$36.82 by the time of writing, with a trading volume of HK$241 million. According to reports, CMB International released a research note stating that due to short-term pressure on Comfy sales, the firm has revised its 2025/26 revenue growth forecasts downward to -3.5% and 13.6%, respectively. The report highlighted that the company faced sales challenges during the "Double 11" shopping festival, primarily due to weaker-than-expected performance in livestreaming sales. This was attributed partly to the company's strategic channel adjustments and partly to intensified industry competition. However, management maintained strategic focus amid market changes, prioritizing price stability and consumer experience while increasing the proportion of self-operated livestreaming channels to support long-term growth. Earlier, Bank of America Securities noted that GIANT BIOGENE's sales were under pressure during Double 11, with Comfy brand sales on Tmall and Douyin declining 20% and 50% year-over-year, respectively, based on management data. In contrast, the Collgene brand achieved positive growth during the same period. The report also mentioned that management lowered this year's performance guidance, expecting flat or slightly lower revenue year-over-year, with net profit projected to decline by mid-to-high single digits.
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