Guotai Junan: Maintains Buy rating on Gouban (02517.HK) with a target price of 4.47 Hong Kong dollars.

According to the Zhitong Financial APP, Guotai Haitong released a research report predicting that the revenue of Kung Fu (02517.HK) from 2025 to 2027 will be 7.612/8.832/10.175 billion yuan (RMB, same below), with growth rates of 18%/16%/15%. The company's core operating profit for 2025-2027 is predicted to be 448/553/675 million yuan, with growth rates of 44%/23%/22%; the net profit attributable to shareholders for 2025-2027 is predicted to be 435/537/655 million yuan, with growth rates of 89%/23%/22%. Referring to comparable companies in the same industry, the company is given a target market value of 12.3 billion Hong Kong dollars based on a 20xPE for core operating profit in 2026, with a target price of 4.47 Hong Kong dollars (assuming 1 Hong Kong dollar = 0.90 RMB), maintaining a hold rating.