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Research Report

21/11/2019 17:45

{I-bank focus}Zhou Hei Ya (01458) sees sales growth in 2020

[ET Net News Agency, 21 November 2019] Morgan Stanley believes that Zhou Hei Ya
International's (01458) earnings in 2H 2019/1H 2020 could still be under pressure.
Starting a franchise model could be the best that the company can do to digest the
substantial increase in new capacity.
The research house is looking forward to the new products, which are key to turning
around old retail stores.
The company doesn't expect significant changes in 2H, as it changed the management team
(CEO, CFO, HR Director, Head of Production, etc) over the past few months. SSSG remained
weak in Central China, although SSSG has stabilized in the Eastern and Northern regions.
As an initial 2020 outlook, it expects sales to return to growth, supported by the
rollout of the franchise model and new product launches, such as seafood, chicken and
goose products.
Morgan maintained its "underweight" rating on the stock, with a target price of HK$3.3.

Remark: Real time quote last updated: 04/08/2020 17:58
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