Changes in Hong Kong stocks | Xiaocaiyuan (00999) once rose more than 9%, hit a seven-month high, and Wan Hongyuan gave a target price of HK$10

The Zhitong Finance App learned that Little Vegetable Garden (00999) opened high today. At one point, it rose more than 9%, and reached a record high of HK$8.75 since the beginning of February this year. The stock recorded two pre-market transactions of 14.59 million shares, at HK$8.5 per share, 6.1% higher than the previous day's closing price and involving HK$124 million. As of press release, it rose 8.55% to HK$8.695, with a turnover of HK$147 million.

According to news, in the first half of this year, Little Vegetable Garden achieved revenue of 2,903 billion yuan, up 7% year on year; net profit to mother was 290 million yuan, down 24.2% year on year, mainly due to the company actively adjusting prices to improve cost performance, leading to an increase in raw material and employee costs as a share of revenue. The board of directors resolved to pay an interim dividend of $0.2139 per share, totaling approximately $250 million, with a dividend ratio of 86.3%.

According to Shen Wan Hongyuan's research report, for the first time, small vegetable gardens were covered and given a “buy” rating. The target price was HK$10. The bank is optimistic about the standardized operation capabilities of small vegetable gardens, competitive barriers to building its own full cold chain supply chain, and organizational vitality brought about by deep employee incentive mechanisms. Societe Generale Securities said that the company maintains strong dividends, and profit margins are expected to improve steadily from month to month in the second half of the year. It is recommended to continue to monitor same-store sales progress.