Core Viewpoint - Goldman Sachs forecasts a 2% sales growth for Yihai International in 2025, with net profit growth reaching 8% [1] Sales and Profit Growth - Sales growth in the second half of the year is expected to be 3%, while net profit growth is projected to accelerate to 13% [1] - Growth drivers include price increases for 2C products, operational leverage, and efficiency improvements in direct sales channels such as Pandonglai, Sam's Club, and discount snack stores [1] Future Outlook - The firm has raised its net sales forecasts for 2025 to 2027 by 0.4% to 0.8% due to effective price increases in the 2C business and a potential recovery in consumer demand benefiting the 2B business [1] - Net profit forecasts for 2025 to 2027 have been increased by 4% to 6% owing to improved gross and operating profit margins [1] Target Price Adjustment - Based on updated earnings forecasts, Goldman Sachs has raised the target price for Yihai International from HKD 14.1 to HKD 15.4, maintaining a "Neutral" rating [1]
大行评级丨高盛：上调颐海国际目标价至15.4港元，上调销售额及盈利预测