大行评级｜大和：下调统一企业中国目标价至7.3港元，评级降至“跑输大市”

Group 1 - The core viewpoint of the report is that Daiwa has downgraded the rating of Uni-President China from "Outperform" to "Underperform" and reduced the target price from HKD 9.8 to HKD 7.3 [1] - The report highlights increasing competition from fresh and bottled beverage manufacturers, which is expected to intensify [1] - The beverage business may face cost pressures due to increased channel investments [1] Group 2 - Daiwa forecasts that Uni-President China's profit for Q4 2025 will decline by 38% year-on-year to HKD 133 million [1] - The earnings per share forecast for the years 2025 to 2027 has been lowered by 4% to HKD 14 [1]