CICC: Maintains outperform rating on Nongfu Spring (09633.HK) with a target price of 54 Hong Kong dollars.

According to the Securities Times APP, CICC released a research report stating that it basically maintains its profit forecast for Nongfu Spring (09633.HK) for 2025 and 2026. The company is currently trading at 35/30 times 2025/2026 P/E, maintaining a target price of HK$54, corresponding to 37/33 times 2025/2026 P/E and a 7% upside potential. The company's 1H25 results were announced: revenue was 25.6 billion yuan, up 15.6% year-on-year; net profit was 7.6 billion yuan, up 22% year-on-year, in line with the bank's expectations.