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<Research>Nomura Keeps Buy on SHENZHOU INTL, Tweaks Down TP to HKD67.8
Recommend 4 Positive 2 Negative 2 |
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SHENZHOU INTL (02313.HK)'s 2025 full-year revenue grew by 8.1% YoY to RMB30.99 billion, according to a report from Nomura. However, the company's revenue growth slowed to 2.2% in 2H25, as demand for sports apparel weakened in the Chinese market, where sales declined by 8.4% YoY. Due to sharing tariff costs with US clients and rising employee costs, SHENZHOU INTL's full-year annual gross profit margin decreased by 1.8 ppts to 26.3%. In addition, while the company's operating expense ratio fell by 0.4 ppts YoY to 8.6%, the annual net profit still dropped by 6.7% YoY to RMB5.83 billion because of one-time gains in 2024 and RMB appreciation. Nomura has reduced its target price for SHENZHOU INTL from HKD68.3 to HKD67.8 but kept the Buy rating unchanged. This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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