Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>CICC Lifts KUAISHOU-W (01024.HK) TP to $66 on Good GMV/ Core Biz Growth Rate
Recommend 14 Positive 27 Negative 8 |
||||
|
||||
|
KUAISHOU-W (01024.HK)'s 3Q24 revenue grew 11.4% YoY to RMB31.1 billion, while non-IFRS net profit amounted to RMB3.95 billion, in line with the estimations of the market and CICC, CICC released a research report saying. Looking ahead to 4Q24, CICC judged that the GMV of KUAISHOU-W's platform delivered better performance during Double 11. However, considering that Double 11 may have a siphon effect on GMV for the rest of 4Q24, the broker estimated that the overall 4Q24 GMV YoY growth rate would remain at around 14%. CICC also forecasted revenue to hike by 10% YoY, with other revenues including e-commerce rising by 19%. It is projected that revenue from advertising will increase by 15%, and core business revenue growth will be better than GMV. Taking into account that 4Q24 expense input may continue, CICC lowered its 2024 non-IFRS net profit forecast by 3% to RMB18.1 billion, and maintained its 2025 non-IFRS net profit forecast unchanged. Therefore, the broker kept rating at Outperform for the Company, and lifted its target price by 18% to $66. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
