Franchising and costs cutting are the keys

M N 5 Apr 2024 CMB International Global Markets | Equity Research | Company Update Nayuki (2150 HK) Franchising and costs cutting are the keys We are still highly cautious on the catering sector (as well as Nayuki) because of Target Price HK$3.43 price war induced by the weakening macro demand and surge in competitions. (Previous TP HK$7.53) We maintain BUY on Nayuki only because of its: 1) high cash level (over 75%+ of Up/Downside 31.3% its market cap), 2) potential income and profits from ramp up of its f ...