Yihai International's 4Q Sales Momentum Likely Slowed -- Market Talk

Dow Jones01-08

0358 GMT - Yihai International Holding's 4Q sales momentum likely slowed amid lackluster third-party sales, Citi Research analysts say in a note. The Chinese condiment maker's third-party sales momentum has softened since October amid weak consumer sentiment overall and worsened in December due to a high base, the analysts say. However, Yihai's 2H gross profit likely improved slightly on year due to lower raw-material costs, they say. Citi lowers its target price on the stock to HK$14.50 from HK$18.60 but maintains a buy rating. Despite the slowdown in 4Q, the company expects double-digit growth of third-party sales in 2024, driven by the ramp-up of its online channel and overseas market, among others, the analysts add. Shares are 3.9% lower at HK$10.90. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

January 07, 2024 22:58 ET (03:58 GMT)

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The Chinese condiment maker's third-party sales ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01579","symbol_name":"颐海国际","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2401672659","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2401672659","pubTimestamp":1704686280,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0358 GMT - Yihai International Holding's 4Q sales momentum likely slowed amid lackluster third-party sales, Citi Research analysts say in a note. The Chinese condiment maker's third-party sales momentum has softened since October amid weak consumer sentiment overall and worsened in December due to a high base, the analysts say. However, Yihai's 2H gross profit likely improved slightly on year due to lower raw-material costs, they say. Citi lowers its target price on the stock to HK$14.50 from HK$18.60 but maintains a buy rating. Despite the slowdown in 4Q, the company expects double-digit growth of third-party sales in 2024, driven by the ramp-up of its online channel and overseas market, among others, the analysts add. Shares are 3.9% lower at HK$10.90. 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