机构：招银国际 研究员：Walter WOO Green Tea Group is a leading casual Chinese cuisine restaurant group We forecast 18% sales and 25% adj. net profit att. CAGR during FY23- 26E. We project 18% sales CAGR in FY23-26E, driven by 32% store CAGR and -10% sales per store CAGR (a mixture of -2% ASP CAGR, 7% for delivery sales per store CAGR, -12% for dine-in sales per store CAGR, opening of more smaller-sized stores and expansion to more lower-tier cities). We also expect the adj.net profit to grow by 25% CAGR during FY23- 2 ...