HK Stock Movement | GIANT BIOGENE (02367) Falls Over 3% Again as Comfy Faces Short-Term Pressure; Multiple Institutions Cut Earnings Forecasts

Stock News12-11

GIANT BIOGENE (02367) dropped more than 3% again, declining 2.93% to HK$35.14 by the time of writing, with a trading volume of HK$236 million. The decline follows reports of weaker sales during the Double 11 shopping festival. According to management data, sales of the Comfy brand on Tmall and Douyin fell by 20% and 50% year-on-year, respectively. CMB International released a research note stating that due to short-term pressure on Comfy, it has revised down the company's 2025/26 revenue growth forecasts to -3.5% and 13.6%. The report noted that sales underperformed expectations, primarily due to weaker-than-expected livestreaming sales. CITIC Securities also downgraded its 2025 revenue and profit forecasts, citing industry-wide challenges and operational decisions. However, the firm highlighted GIANT BIOGENE's strong brand equity and structural operational strengths. Looking ahead, the company has clear short- and long-term strategies, with Comfy targeting a revenue goal of RMB 10 billion and detailed plans for product, operations, and channels. Meanwhile, the brand Curie is undergoing a revamp, and the company aims to develop another OTC blockbuster brand.

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