Changes in Hong Kong stocks | Samsonite (01910) fell more than 3% in the afternoon, most major markets continued to slow, and third-quarter results are expected to weaken

The Zhitong Finance App learned that Samsonite (01910) fell more than 3% in the afternoon. As of press release, it was down 2.9% to HK$18.74, with a turnover of HK$111 million.

According to the news, Yamato released a research report saying that Samsonite's business trends for the third quarter are not expected to be significantly different from those in the second quarter, and most of its major markets will continue to slow down. Adjusted EBITDA for the third quarter is expected to drop 10% year over year due to the particularly high base effect. The target price was reduced from HK$30 to HK$25, maintaining the “Buy” rating. Also, the bank believes its secondary listing in the US may be delayed until the first half of next year.

UBS previously indicated that Samsonite's third-quarter results, which are expected to be announced in the middle of next month, will weaken due to factors such as price competition in the Indian market and slowing growth in the Western region. The bank lowered the company's revenue forecast from this year to 2026 by 1% to 2%. It is expected that there will be a more obvious slowdown in the second half of this year. Furthermore, the degree of operating deleveraging that exceeds expectations and unfavorable sales portfolio transfers will also cause the bank to lower its profit margin forecast.