Zhi Tong Cai Jing·2025-11-27 07:45Core Viewpoint - Vitasoy International (00345) has faced challenges in its mainland China business, leading to a decline in revenue and a drop in stock price by over 3% [1] Financial Performance - For the six months ending September 30, 2025, Vitasoy reported revenue of HKD 3.227 billion, a decrease of 6% year-on-year [1] - Gross profit was HKD 1.648 billion, down 7% compared to the previous year [1] - Profit attributable to equity holders was HKD 172 million, reflecting a year-on-year increase of 1% [1] Market Analysis - The decline in revenue is primarily attributed to weak market conditions in mainland China, which has posed significant challenges for the company's performance [1] - Macquarie has revised its profit forecasts for Vitasoy, lowering the net profit estimates for fiscal years 2026 and 2027 by 16.3% and 13.3%, respectively [1] - The target price for Vitasoy's stock has been reduced from HKD 10 to HKD 7.4, while maintaining an "outperform" rating [1]