Goldman Sachs released a research report sayingcasinoslots, gave a "buy" rating to Mingchuang Premium Products (09896), and its sales momentum is expected to continue to be solid, with the target price raised from HK$60 to HK$61. The company will announce its first-quarter results around mid-May.
The bank expects total sales of Mingchuang Premium Products to be 36.casinoslots.60 million yuan, a year-on-year increase of 24%. Taking into account expenses related to the expansion of overseas directly operated stores, gross profit margin is expected to decrease slightly by 0.5 percentage points quarter-on-quarter to 42.6%, while operating expense ratio will increase by 0.2 percentage points quarter-on-quarter to 23.9%. Therefore, adjusted net profit for the first quarter is expected to be 582 million yuan.
