[ET Net News Agency, 17 July 2018] Citi Research lowered its target price for Sa Sa
International Holdings (00178) to HK$5.05 from HK$6.15, and reiterated its "buy" rating.
The research house said Sa Sa's 25% HK-Macau SSSG in 1Q FY2019 was slightly below its
expectation of 26%, due to a slowdown in the last two weeks in June to 15% (versus 27% in
April-mid June).
Management attributed the slower SSSG to unstable weather, weak stock market and RMB
depreciation, all of which negatively affected store traffic in late June. That said,
management noted sequential improvement in early July, reflecting a gradually stabilizing
consumer sentiment.
Citi also believes the short-term challenges are well recognized, and will be offset by
favorable policies in the Greater Bay Area (GBA) and the opening of high speed rail in 2H
FY2019. (KL)
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00178 SA SA INT'L
Nominal 
0.750 +0.030 (+4.167%) Others
17/07/2018 14:24
[I-bank focus]Citi lowers Sa Sa Int'l (00178) to HK$5.05
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