Guotai Junan Securities: Initial rating on Five Grain Mill (01837.HK) as Buy with a target price of HK$2.44

According to the Wisdom Financial APP, Guotai Junan Securities released a research report stating that it is expected that the EPS of Five Grain Mill (01837.HK) for 2026-2028 will be 0.14/0.17/0.21 yuan. Taking into account comparable valuations, a 15x PE (26E) is given, with a target price of 2.44 Hong Kong dollars per share, initiating coverage for the first time and giving a "hold" rating. The bank believes that the company is a pioneer in Chinese grain powder and a leader in the concept of food and medicine having the same source. With outstanding competitiveness in multiple dimensions such as brand, product, channel, and supply chain, and against the backdrop of the acceleration of the Chinese food nutrition industry, the company is guided by its flagship product, and is exerting efforts across multiple scenarios and channels, with ample growth momentum and great long-term development potential.