Core Viewpoint - Goldman Sachs reports that Gu Ming (01364) has been opening stores at a pace exceeding expectations, driven by delivery subsidies and new product offerings, with a strong growth in gross merchandise value (GMV) of over 20% in July and August [1] Financial Performance - The company’s revenue growth is expected to be supported by strong store openings and category expansion, despite an increased base for food delivery subsidies by 2025 [1] - Goldman Sachs has raised its profit forecasts for Gu Ming for 2025 to 2027 by 9% to 14%, and adjusted the core net profit forecast for this year from 2.2 billion RMB to 2.4 billion RMB [1] Target Price and Rating - The target price for Gu Ming has been increased from 30 HKD to 32 HKD, maintaining a "Buy" rating [1]
高盛：升古茗目标价至32港元 维持“买入”评级