Core Viewpoint - The stock of Giant Bio (02367) has declined nearly 4%, with a current price of HKD 36.82 and a trading volume of HKD 241 million, following a report from CMB International that downgraded revenue growth forecasts for 2025/26 due to short-term pressures on Comfy brand sales [1] Group 1: Company Performance - CMB International has revised the revenue growth forecast for Giant Bio to -3.5% and 13.6% for 2025/26, indicating a challenging sales environment during the "Double Eleven" shopping festival, primarily due to underperformance in the sales of the Comfy brand [1] - Management has adjusted the performance guidance for the year, expecting revenue to remain flat or slightly decline, and has lowered the net profit forecast to a mid-to-high single-digit percentage decline [1] Group 2: Sales Performance - During the "Double Eleven" period, sales of the Comfy brand on Tmall and Douyin saw a year-on-year decline of 20% and 50%, respectively, while the Collgene brand achieved positive growth during the same period [1] - The company is actively adjusting its channel strategy in response to competitive pressures in the industry, while maintaining strategic focus to enhance pricing and consumer experience, and increasing the proportion of self-broadcast channels to lay the foundation for long-term growth [1]