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23530 HS-JMJ @EC2503A (CALL)
RT Nominal down0.032 -0.001 (-3.030%)

17/01/2024 15:50

{I-bank focus}Macquarie lowers Jiumaojiu (09922) to HKD7.5

[ET Net News Agency, 17 January 2024] Macquarie lowered its target price for Jiumaojiu
(09922) to HKD7.5 from HKD20 and maintained its "outperform" rating.
The research house said it lowers 2023E/2024E/2025E net income 18.9%/36.0%/41.8% to
reflect a slower-than-expected SSSg recovery and more conservative store expansion/margin
assumptions. (RC)

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