Hong Kong TVIt is up 7.87 per cent to HK $10.96, with the share price hitting a more than two-month high, with a temporary turnover of HK $96.68 million and a new market capitalization of HK $10.042 billion.
According to Daiwa's latest research report, driven by the consumer voucher program and new business, Hong Kong TV's GMV will grow strongly in the second half of the year. Considering that its share price has fallen by about 40% since January, it is expected that positive factors will become the catalyst for the stock price.
The bank pointed out that Hong Kong Television's HKTVmall, as the largest local e-commerce platform in Hong Kong, will become the main beneficiary of the consumption voucher scheme. It is expected that it will be able to win more market share from overseas e-commerce. At the same time, the plan will promote the development of electronic payments, which is also expected to contribute to the long-term growth of Hong Kong's online consumption trend.
In addition, the company's new business ShoalterI.T LimitedCo-operating fashion brand online sales platform EESE made a contribution for the first time, with Daiwa raising its target price to HK $14.50 and reiterating its "buy" rating.