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00425 MINTH GROUP
RTNominal down12.880 -0.320 (-2.424%)
Research Report

08/11/2019 11:33

{I-bank focus}Daiwa lifts Minth Group (00425) to HK$31

[ET Net News Agency, 8 November 2019] Daiwa Research lifted its target price for Minth
Group (00425) to HK$31 from HK$28 and maintained its "buy" rating.
The research house held a conference call with Minth's management on 6 November to get
an update on the company's operations in 3Q. Daiwa believes Minth's operation in China is
set to stage a turnaround, with revenue rising by 3% in 2H versus a decline of 8% in 1H,
backed by an ongoing market recovery in China.
It added that Minth's gross margin in 2H is likely to be largely stable HoH, reflecting
the mixed impact of continuous price pressure and an enhanced product mix. Daiwa expects
the top-line recovery and stable gross margins to continue in 2020-21. (KL)

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