It's the Season for Hot Pot; Yihai International Expected to Benefit -- Market Talk

Dow Jones09-04

0406 GMT - Yihai International's 2H hot pot sales could rise, China Galaxy International analyst Lei Yang writes in a note. Management says 2H is the high season for hot pot sales and the Chinese hot pot condiment maker will be launching new hot pot products in September, the analyst says. In 1H, newly launched products contributed to higher third-party sales, the analyst adds. However, Yihai's 1H net profit fell below the brokerage's expectations due to a higher distribution expenses ratio, forex losses and lower government subsidies, the analyst notes. China Galaxy trims its 2024-2026 EPS forecasts by 8.1%-9.1% to reflect a higher distribution expenses ratio. It lowers its stock target price to HK$15.70 from HK$19.10, while maintaining an add rating. Shares are at HK$11.18.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

September 04, 2024 00:06 ET (04:06 GMT)

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Management says 2H is the high season for hot pot sales and the Chinese hot ...</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":"LU0274383008.USD","symbol_name":"MANULIFE GF ASIAN SMALL CAP EQUITY \"AA\" (USD) INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2464205313","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2464205313","pubTimestamp":1725422760,"columns":[],"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":"0406 GMT - Yihai International's 2H hot pot sales could rise, China Galaxy International analyst Lei Yang writes in a note. 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