General Mills, Inc. (NYSE: GIS) is a leading global food company known for its wide range of products, including cereals, snacks, and pet foods. The company operates in a competitive market with rivals like Kellogg's and Nestlé. Recently, General Mills has experienced fluctuations in its consensus price target, reflecting changing analyst expectations. General Mills is set to announce its second-quarter earnings results on December 17. Analyst Christopher Growe from Stifel Nicolaus has set a price target of ...

Summary of East Buy (1797.HK) Earnings Review Company Overview - **Company**: East Buy (1797.HK) - **Industry**: E-commerce, specifically focusing on private label and live streaming sales Key Financial Results - **2HFY25 Performance**: - **GMV**: Rmb3.9 billion, down -55% YoY, 15% below expectations - **3P GMV**: Decreased by -63% YoY, 40% below expectations due to high return rates - **1P GMV**: Increased by 5% YoY, in line with expectations - **Revenue**: Rmb2.2 billion, down -46% YoY, in line with expectations - **Adjusted Net Profit**: Rmb198 million, down -34% YoY, but 90% above expectations - **Gross Profit Margin (GPM)**: 5.1% NPM, improved due to lower operating expenses [1][2][17] - **FY25 Full Year Results**: - **GMV**: Rmb8.7 billion, down -39% YoY - **Revenue**: Rmb4.4 billion, down -33% YoY - **Adjusted Net Income**: Rmb173 million, with a 30% increase in net profit from continuing operations to Rmb135 million when excluding one-off impacts [2] Operational Highlights - **Product Range Expansion**: Increased from 488 to 732 SPUs, including nutritional foods, pet foods, and clothing - **East Buy App**: Contributed 16% of GMV and 25% of revenue in FY25, with paid members reaching 264k, a 16% increase from the previous period [3][19] - **Multi-Platform Strategy**: Over 70% of FY25 GMV came from Douyin, with plans to explore offline channels [20] Forecast Adjustments - **FY26-27E GMV Forecasts**: Reduced by 1-3%, but revenue forecasts raised by 0-10% due to higher contributions from 1P private-label products [4] - **Adjusted Net Profit Margin**: Revised up by +0.2pp/+1.0pp for FY26-27E [4] Valuation and Price Target - **Current Price**: HK$31.62 - **Target Price**: HK$9.00, based on a 15x CY26E target P/E - **Valuation Concerns**: Current valuation remains high at 3x P/GMV and 59x P/E for FY26E, compared to peers [16][34] Risks and Investment Thesis - **Risks**: GMV pressure, especially in the 3P live-streaming segment, and elevated valuation relative to growth prospects - **Investment Rating**: Sell due to unclear near-term growth outlook and high valuation [37] Additional Insights - **Private Label Products**: Accounted for 44% of GMV and 80% of revenue in FY25, with strong momentum in nutritious products [19] - **East Buy App Growth**: Expected to contribute 21% of GMV in FY26E, with a target of 560k paid members by 2027E [19][23] - **DAUs and WAUs Stability**: Despite stable user engagement metrics, the app's growth potential remains uncertain [30] This summary encapsulates the key financial metrics, operational highlights, and strategic outlook for East Buy, providing a comprehensive overview for potential investors and stakeholders.