Changes in Hong Kong stocks | Longfeng Group (02290) rose more than 5%, retail sales in the first fiscal quarter increased 21% year over year, and DBS gave a target price of HK$7.98

The Zhitong Finance App learned that Longfeng Group (02290) rose by more than 5%. As of press release, it had risen 5.12% to HK$3.9, with a turnover of HK$124.761,000.

According to the news, Longfeng Group recently announced that retail sales for the first fiscal quarter ended June 30 million were HK$830 million, up 21.2% year on year, while same-store sales increased 10.3%. The company pointed out that retail sales in June were affected by several days of rain, but passenger traffic increased and retail network coverage expanded. There were 31 stores at the end of June, 4 more than at the end of June last year.

According to DBS Research, the “buy” rating was covered for the first time for Longfeng Group, with a target price of HK$7.98. The bank expects the Group's core profit for the 2027-2028 fiscal year ending the end of March to be 361 million yuan and 423 million yuan respectively. It believes that 5.6 times the current price-earnings ratio and 10.7% dividend ratio for fiscal year 2027 provide attractive upward potential for value revaluation.