Core Viewpoint - Bank of America Securities reports that Yihai International (01579) underperformed expectations in the first half of the year, with weak revenue growth and flat net profit. The firm has lowered its earnings per share forecasts for the next two years by 9% and 15%, respectively, reaffirming a "underperform" rating and reducing the target price from HKD 13.6 to HKD 13.3 [1] Financial Performance - Yihai International's revenue growth is described as sluggish, and net profit remains unchanged, indicating a lack of significant improvement in business performance [1] - The earnings per share forecasts have been adjusted downwards by 9% for this year and 15% for the next year, reflecting a pessimistic outlook on the company's financial performance [1] Business Outlook - The company’s overseas business profitability is noted to require improvement, suggesting challenges in expanding its international market presence [1] - While there are indications of new growth drivers from developing new B2B clients and customized products, the short-term contributions from these initiatives are expected to be insufficient [1] - Structural negative factors within the industry are anticipated to persist, impacting the overall growth prospects for Yihai International [1]
美银证券：重申颐海国际跑输大市评级 目标价降至13.3港元