roulettefreebonus| Macquarie: Raise Minwa Holdings target price to HK$11.2 to maintain "outperform" rating

Macquarie issued a report statingroulettefreebonusMinhua Holdings 'revenue in the second half of fiscal year 2024 increased by 17% year-on-year to 9.4 billion yuan, in line with the bank's expectations. Benefiting from the decline in raw material costs, etc., the reported net profit increased by 41% year-on-yearroulettefreebonus.8%, which is also in line with the bank's expectations. Macquarie pointed out that through product repositioning and new customer penetration, Minhua Holdings 'overseas business targets double-digit growth in fiscal year 2025. Although weak demand for new homes has brought short-term headwinds, Recliner has low penetration in China and still has opportunities to grow over time.

Macquarie lowered Minhua Holdings 'profit forecast for the 2025 - 2026 fiscal year by 5% and 8% respectively, but raised its target price by 12% to HK$11.2, maintaining its "outperform" rating.