智通财经网·2025-08-13 07:07Core Viewpoint - Daiwa has downgraded the target price for Master Kong Holdings (00322) from HKD 12 to HKD 11, reiterating a "underperform" rating due to increased competition in the beverage sector from peers like Dongpeng Beverage (605499.SH) and Nongfu Spring (09633) in the sweet tea drink category [1] Company Summary - Master Kong's management has slightly lowered its full-year guidance for 2025, expecting revenue to remain flat to slightly increase year-on-year, compared to earlier expectations of low single-digit growth [1] - The core profit growth is anticipated to maintain over 10% [1] - The instant noodle business has resumed year-on-year growth since July, with market share stabilizing [1] Industry Summary - The ready-to-drink tea, juice, and bottled water segments are expected to face intense competition in the third quarter [1]