Ge Long Hui·2026-01-08 06:31Group 1 - The core viewpoint of the report indicates that Galaxy Entertainment's management revealed an increase in market share in the fourth quarter of last year, with Goldman Sachs estimating a quarterly rise of 1.4 percentage points to 21.8%, surpassing the previous target of approximately 21% by year-end [1] - The increase in market share is believed to be partially driven by higher-than-normal VIP room win rates, contributing to the overall performance of the company [1] - Recent improvements in high-end luxury goods consumption in Hong Kong, Hainan, and other cities are expected to support the recovery of Galaxy Entertainment's retail sales, which are projected to show year-on-year growth [1] Group 2 - The adjusted EBITDA for the last quarter is expected to reach HKD 3.6 billion, with actual performance potentially exceeding this estimate [1] - Goldman Sachs maintains a "Buy" rating for Galaxy Entertainment, with a target price set at HKD 53.7 [1]