Core Viewpoint - UBS maintains a "Buy" rating for Little Garden (00999) with a target price of HKD 14, emphasizing the company's growth strategy and customer focus [1] Group 1: Company Goals - Management reiterated targets to reach 800 restaurants by the end of 2025 and 1,000 by the end of 2026, with a long-term goal of 3,000 direct-operated restaurants within 5-7 years [1] - The company aims to reduce the average spending per customer from RMB 57 in the first half of the year to between RMB 50-55, despite a potential decline in gross margin [1] Group 2: Customer Focus - The target customer demographic consists of consumers with a monthly salary of RMB 3,000-5,000, indicating a focus on affordability and accessibility [1] - The management emphasizes providing delicious and affordable food to attract more customers, which aligns with the strategy to increase foot traffic [1]
瑞银：维持小菜园(00999)“买入”评级 目标价14港元