Lates News

Goldman Sachs published a research report pointing out that Guming's recent store-opening speed has consistently exceeded expectations. With the support of delivery subsidies and new products, the growth of total gross merchandise volume (GMV) per store remains strong, growing by over 20% in July and August. Looking ahead to 2025, despite the increasing base of food delivery subsidies, strong performance in store openings and category expansion will support revenue growth. The bank has raised Guming's profit forecasts for 2025 to 2027 by 9% to 14%, while adjusting core net profit forecast for this year from 22 billion yuan to 24 billion yuan. The bank has also increased its target price for Guming from 30 Hong Kong dollars to 32 Hong Kong dollars, maintaining a "buy" rating.