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Express News | Shanghai Yuyuan Tourist Mart: The company's executive president, Ran Fei, has resigned.
Galaxy Securities: Bullish on FOSUN INTL's investment value with a Target Price of 7.5 HKD.
Yinhe Securities recently released a research report, initiating coverage of FOSUN INTL (00656) with a "Shareholding" rating and a Target Price of 7.5 HKD. Yinhe Securities believes that FOSUN INTL is firmly focused on its core business and has developed into a Global family consumption industry group over the past 30 years, establishing a sustainable growth framework for its core business. The health Sector, primarily led by FOSUN PHARMA, has contributed impressive results, with its Innovative Drugs continuing to grow. In the first half of 2024, FOSUN PHARMA's independently developed and licensed four Innovative Drugs/biosimilars have received approval for a total of nine indications both domestically and internationally, with four Innovative Drugs/biosimilars covering nine indications.
Research reports from Everbright Securities: shanghai yuyuan tourist mart's core properties have strong location advantages, maintaining a 'buy' rating.
Everbright's research report pointed out that shanghai yuyuan tourist mart (600655.SH) third quarter performance was lower than our previous expectations, mainly due to the company's gold jewelry business, which was affected by the high gold price, leading to lower-than-expected sales at the retail end. Considering the uncertain recovery progress of the gold jewelry business in the future, the forecast for the company's 2024/2025/2026 net income attributable to shareholders is reduced by 60%/62%/63% to 1.11/1.181/1.253 billion yuan. The company's core properties have strong location advantages, and the gold jewelry business has strong competitive advantages in eastern China and other regions, maintaining a “buy” rating.
shanghai yuyuan tourist mart (600655): 4995 jewelry stores, waiting quietly for performance to improve.
The company's revenue decreased by 8.72% year-on-year in 1-3Q2024, while the net income attributable to the mother decreased by 48.12% year-on-year. The company announced its 2024 third quarter report: Revenue in 1-3Q2024 reached 36.101 billion yuan, a decrease compared to the same period.
Shanghai Yuyuan Tourist Mart (600655): The high volatility of gold prices puts pressure on the jewelry fashion sector, continuing to strengthen the core industrial operation and capacity building.
Event: shanghai yuyuan tourist mart releases the 2024Q3 financial report. ① 2024Q1-Q3: revenue of 36.1 billion yuan, -8.72% year-on-year; net income attributable to the parent company of 1.16 billion yuan, -48.12% year-on-year. ② 2024Q3
Shanghai Yuyuan Tourist Mart (600655): Jewelry real estate under pressure, continues to slim down and stay healthy.
Investment highlights performance: 24Q3 revenue -30%, net profit attributable to mother +5%, continuous pressure on the gold and real estate sectors due to sluggish gold jewelry sales and continued deep adjustments in real estate dragging down performance. 1) 24Q1-3: Revenue 36.1 billion yuan (year-on-year)
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