＜Research＞CMS Chops EAST BUY (01797.HK) TP to $8.5 as Departure of Famous Anchor Marks Key Biz Turning Point

　　EAST BUY (01797.HK) +0.230 (+2.421%) Short selling $235.13M; Ratio 26.327% announced the departure of famous anchor Dong Yuhui and the transfer of its 100% of stake in its “Time with Yuhui”, CMS released a research report saying.

　　With Time with Yuhui's contributing about 50% of EAST BUY's Douyin channel GMV and recording a net profit of RMB141 million, CMS expected that the spin-off of Time with Yuhui will cause EAST BUY's core net profit to decline by 21%/ 41% in FY2024/ FY2025, with GMV estimated to fall by about 17%/ 36%, respectively.

　　Related NewsCICC Axes EAST BUY (01797.HK) TP by 68% to $11.5, Keeps Outperform Rating

　　CMS kept rating at Neutral on EAST BUY, and chopped its target price from $14 to $8.5.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-26 16:25.)

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