Oriental Selection (01797) rebounded by more than 7%, and fell by more than 10% yesterday. As of press release, it rose 7.27% to HK$17.12, with a turnover of HK$129 million.
The Zhitong Finance App learned that Oriental Selection (01797) rebounded by more than 7%, and fell by more than 10% yesterday. As of press release, it rose 7.27% to HK$17.12, with a turnover of HK$129 million.
According to the news, the latest information from the Stock Exchange shows that on April 24, Oriental Selection was granted by New Oriental Education & Technology Group Inc. to increase its holdings by 1 million shares at an average price of HK$17.3879 per share on the market, involving approximately HK$17.3879 million. After the increase in holdings, New Oriental Education & Technology Group Inc.'s latest shareholding was 588 million shares, and the shareholding ratio rose to 57.04%.
According to the Goldman Sachs Research Report, it is expected that the worst situation in Oriental selection has passed. The gross operating margin is expected to improve to 7% in the fourth fiscal quarter of fiscal year 2024. The bank lowered the target price of Oriental Selection from HK$21.5 to HK$18.4. The investment rating is “neutral” based on increased pressure on profit margins.