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[Broker Focus] China Merchants Securities maintains the guideline that Teb International (01368) highly recommended ratings indicate that profit growth is expected to be faster than revenue
Jinwu Financial News | China Merchants Securities Research Report shows that the 24Q1 omni-channel sales volume of the main brand of Teb International (01368) increased in high units, and discounts and inventory were steady, moderate and positive. Sales of new brands in mainland China increased 25% + year over year. The company maintains a year-on-year revenue growth rate of no less than 10%, and profit growth is expected to be faster than revenue guidance. The company's main brand focuses on the core categories of running, product & channel structure optimization. According to the bank, the company's main brand focuses on the core categories of running, product & channel structure optimization, and the collaborative development of Sokney and XTEP's main brand will maintain a relatively rapid pace of scale expansion and continue to provide performance increases. The company has been in operation for 24 years
XTEP INTERNATIONAL To Go Ex-Dividend On May 7th, 2024 With 1.02107 USD Dividend Per Share
April 26th - $XTEP INTERNATIONAL(XTEPY.US)$ is trading ex-dividend on May 7th, 2024. Shareholders of record on May 8th, 2024 will receive 1.02107 USD dividend per share on July 15th, 2024. The ex-
Changes in Hong Kong stocks | Teb International (01368) rose more than 4%. Q1 Special Step's main brand turnover increased by unit volume over the same period last year
The Zhitong Finance App learned that TEP International (01,368) rose by more than 4%. As of press release, it had risen 3.51% to HK$4.72, with a turnover of HK$24.257,700. According to the news, TEP International released retail data for 2024Q1. The sales volume of TEP's main brand increased by a higher number of units over the same period last year, with discounts of 70-75% off, and inventory sales compared to 4-4.5 months. The sales performance was in line with expectations. Changjiang Securities pointed out that the base figure declined in April and the turnover is expected to increase in double digits, and growth is expected to accelerate in subsequent quarters. The bank said that in the short term, the company's inventory has recovered to a relatively healthy level. In 2024, it will be lightweight and the main brand
GF Securities: Maintaining Special Step International's “Buy” Rating Target Price of HK$7.32
GF Securities released a research report stating that maintaining the “buy” rating of Teb International (01368), the estimated net profit from 24-26 is 11.7/13.4/1.53 billion yuan, 15 times PE in 24, and the target price is HK$7.32. Looking ahead to 24 years, considering that the company's inventory has returned to a healthy level and is lightweight, the bank expects the revenue of TEP's main brand to increase by 10%, and profit margins are expected to benefit from rebounding discounts and SG&A fee rate optimization. Furthermore, the company's new brand and the main brand of Special Step complement each other at the consumer base and market level, which is expected to become a new driving force for the company's performance growth.
GF Securities: Maintaining the target price of HK$7.32 for the “Buy” rating of Special Step International (01368)
GF Securities predicts that the revenue of the main brand of XTEP will increase by 10% in '24, and profit margins are expected to benefit from rebounding discounts and SG&A fee rate optimization.
Yamato: Reiterates Special Step International's “Buy” Rating Target Price Reduced to HK$6
Yamato released a research report stating that it reaffirmed the “buy” rating of TEP International (01368) and lowered its earnings forecast per share for this year and next two years by 4% to 9% and the target price to HK$6 based on concerns about overseas market development and weak investment in new brands. According to the report, the retail sales of TEP's core brands recorded a high year-on-year increase in the number of units in the first quarter, which was better than expected. The positive sales trend continued from mid-March until now, and has achieved a double-digit percentage year-on-year increase even under the higher base last year. Yamato said that management's attitude during the investor conference call became more positive and optimistic, but it is expected that the interim results will be released
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