Jingyuan International (02232) rose more than 8% and rose 8.54% to HK$3.56 at press time, with a turnover of HK$3.88 million.
The Zhitong Finance App learned that Jingyuan International (02232) rose by more than 8% and rose 8.54% at press time to HK$3.56, with a turnover of HK$3.88 million.
Damo previously released a research report stating that it gave the company an “increased” rating. It is believed that its stock price will rise in the next 60 days, with a target price of HK$3.3. Damo believes that Jingyuan will benefit from the resumption of orders from major customers in 2024 (lifestyle and sportswear). In addition to sharing revenue opportunities since then, the industry has already gone through supply-side integration. After years of production/execution and cost control efforts, the bank believes that the company can see an upward profit cycle this year. Considering the lower valuation, Damo finds the current valuation attractive.
Bank of China Securities believes that with a weak recovery in domestic consumption in 2023, clothing cooperative zero is better than overall social zero, and is expected to maintain a low level of steady growth in 2024. At the same time, exports are under pressure due to overseas inventory removal, but the decline has narrowed since August, and an inflection point is expected to occur in 2024. In 2023, leading overseas brands are in the inventory removal process. Various brands are actively promoting inventory removal around the supply chain and terminal marketing. Currently, the number of inventory turnover days for major brands has been optimized. Furthermore, with the gradual decline in US inflation, the Fed's interest rate hike cycle is expected to end, and the growth of new orders in 2024 is expected to be positive as demand improves.