Core Viewpoint - The stock of Giant Bio (02367) has experienced significant volatility, with a recent drop of nearly 3% after a previous decline of over 15%, reaching a new low of 40.6 HKD, attributed to market reactions to its pre-sale performance during a major live-streaming event [1] Group 1: Stock Performance - Giant Bio's stock opened high but fell sharply, with a midday drop of nearly 3%, and a previous day decline exceeding 15% [1] - The stock price hit a new low of 40.6 HKD, marking the lowest point in over a year [1] - As of the latest update, the stock was down 2.92%, with a trading volume of 678 million HKD [1] Group 2: Market Analysis - Citigroup's report indicates that the market's reaction to Giant Bio's pre-sale performance during the live-streaming event with influencer Li Jiaqi was excessive [1] - The report highlights that Giant Bio's main products were less price-competitive due to stricter promotional strategies compared to other brands [1] - Citigroup predicts a relatively weak performance for Giant Bio in Q3 and the first two weeks of October, primarily due to fewer KOL live-streaming events [1] Group 3: Revenue Forecast - Citigroup forecasts a 16% year-on-year revenue growth for Giant Bio in the second half of the year, with specific expectations of a 10% decline on Tmall, a 25% increase on Douyin, a 100% growth on JD, and a 10% increase in offline sales [1] - For the fiscal year 2026, Citigroup anticipates a continuation of high growth at 19% due to a low base and no negative customer feedback [1] - The target price for Giant Bio has been adjusted from 69.4 HKD to 55.4 HKD based on a 20x price-to-earnings ratio for the fiscal year 2026, while maintaining a "buy" rating despite lowering profit forecasts [1]
巨子生物续跌近3% 昨日重挫逾15% 花旗指其双11开局疲软