快讯

Morgan Stanley released a research report downgrading JIUMAOJIU's earnings per share forecasts for 2025 to 2027 by 9%, 6%, and 10% respectively, mainly reflecting weaker-than-expected demand from the beginning of the year to date. Since the second quarter of this year, intensified price competition among delivery platforms has further pressured dine-in demand in the overall catering market. The bank also lowered its revenue forecasts for 2025 to 2026 by 13% to 14% and reduced the 2027 forecast by 10%. Considering the challenging operating environment, the bank expects the company to strengthen cost control, including closing underperforming stores and further cutting headquarters expenses. The bank has lowered its target price from HKD 2.3 to HKD 2.1 and maintained a "reduce" rating. The bank also anticipates that the company's stock price will decline in the next 30 days, as the Hang Seng Index company recently announced that JIUMAOJIU will be removed from the Hang Seng Composite Index starting September 8, which means the stock will be excluded from the Hong Kong Stock Connect