UBS: Optimistic about Gaoxin Retail's (06808.HK) transformation plan, maintains target price of 2.4 Hong Kong dollars.

Wisdom Financial APP learned that UBS released a research report stating that they are optimistic about the transformation plan of high Xin Retail (06808.HK), but due to the intense market competition in the delivery platform and the transformation and upgrading of offline food retail stores, the bank remains cautious about the short-term outlook. They maintain the target price of the stock at 2.4 Hong Kong dollars, with a rating of "Buy". The bank believes that through reducing the number of SKUs, shrinking the store area, and accelerating the plan for new product launches, the product strength of GRT is expected to improve. The management's goal is to increase the sales proportion of own-brand products from the current 3% to 10% within three years, and to reach 20% in the long term.