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Research Report

30/03/2021 11:33

{I-bank focus}Daiwa trims Dali Foods (03799) to HK$5.9

[ET Net News Agency, 30 March 2021] Daiwa Research lowered its target price for Dali
Foods Group (03799) to HK$5.9 from HK$6 and maintained its "buy" rating.
The research house said Dali's 2020 net profit came in slightly better than Daiwa's
expectation, driven by lower selling expenses in 2H. But revenue was below its expectation
on slower-than-expected household product sales.
Management expects revenue to grow by mid-to-high single digits in 2021. Anticipating
higher raw-material costs and lower revenue versus 2020, Daiwa lowered its 2021-22 revenue
and EPS estimates by 6-8%, respectively. (KL)

Remark: Real time quote last updated: 01/12/2021 17:59
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