Jin10 data reported on August 25 that Goldman Sachs' research report indicated that Tuhu (09690.HK) had a year-on-year rise in revenue of 11% to 7.9 billion yuan in the first half of the year, faster than the 8% growth in the second half of last year, and in line with expectations; during this period, adjusted net profit rose 15% year-on-year, better than expected, mainly driven by non-operating income and earnings. The bank's revenue forecast for 2025 to 2027 remains largely unchanged, with adjusted net profit forecast raised by 0 to 3%. As for the second half of the year, the bank expects revenue to rise 11% year-on-year, with adjusted net profit expected to rise 33% year-on-year to 354 million yuan; the target price has been raised from 21.9 HKD to 22.4 HKD, maintaining a buy rating.
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Goldman Sachs raises the target price for TuHu to HKD 22.4, maintaining a buy rating.
Jin10 data reported on August 25 that Goldman Sachs' research report indicated that Tuhu (09690.HK) had a year-on-year rise in revenue of 11% to 7.9 billion yuan in the first half of the year, faster than the 8% growth in the second half of last year, and in line with expectations; during this period, adjusted net profit rose 15% year-on-year, better than expected, mainly driven by non-operating income and earnings. The bank's revenue forecast for 2025 to 2027 remains largely unchanged, with adjusted net profit forecast raised by 0 to 3%. As for the second half of the year, the bank expects revenue to rise 11% year-on-year, with adjusted net profit expected to rise 33% year-on-year to 354 million yuan; the target price has been raised from 21.9 HKD to 22.4 HKD, maintaining a buy rating.