U.S. Stock Market News | Bosideng ADR surged more than 14% overnight, Guosheng Securities expects a 30% increase in annual revenue

Zhitong
2024.06.26 01:52
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On Tuesday, Bosideng ADR rose by 14.14% to $28.66 in the US stock market. On the news front, Guosheng Securities released a research report, optimistic about the company's performance in the fiscal year 2024, and maintained a "buy" rating. Bosideng is set to announce its fiscal year 2024 results on Wednesday, with Guosheng Securities estimating a revenue growth of around 30% for the company. The securities firm pointed out that in recent years, the company's revenue and net profit attributable to shareholders have continued to reach new highs, solidifying its leading position in the down jacket market while gradually expanding into the functional apparel sector. Guosheng Securities added that with the effective expansion of new business categories by the company, performance stability is increasing, market expectations are gradually aligning, and there is hope for an upward shift in future valuation. It is expected that Bosideng's net profits for the fiscal years 2024 to 2026 will be 2.869 billion / 3.323 billion / 3.838 billion yuan, with year-on-year growth rates of 34.2% / 15.8% / 15.5% respectively. Additionally, the Harbin Municipal People's Government recently signed a strategic cooperation agreement with Bosideng and launched the "Bosideng & Harbin" joint fashion show, aiming for high positioning, high starting point, and all-round strategic cooperation

According to the Wise Finance app, on Tuesday, the US stock market, Bosideng ADR (BSDGY.US) rose by 14.14% to $28.66. In terms of news, Guosheng Finance released a research report, optimistic about the company's performance in the 2024 fiscal year, and maintained a "buy" rating.

Bosideng is set to announce its 2024 fiscal year performance on Wednesday. Guosheng Finance expects the company's revenue to grow by around 30%. The securities firm pointed out that in recent years, the company's revenue and net profit attributable to shareholders have continued to reach new highs. While solidifying its leading position in down jackets, the company is gradually expanding into the functional apparel segment.

Guosheng Finance added that with the effective expansion of new business categories, the firm believes that performance stability is increasing, market expectations are gradually aligning, and there is hope for an upward shift in future valuations. It is projected that Bosideng's net profits for the fiscal years 2024 to 2026 will be 2.869 billion, 3.323 billion, and 3.838 billion yuan respectively, with year-on-year growth rates of 34.2%, 15.8%, and 15.5% respectively.

In addition, the Harbin Municipal People's Government recently signed a strategic cooperation agreement with Bosideng and launched the "Bosideng & Harbin" joint fashion show, aiming for high positioning, a high starting point, and comprehensive strategic cooperation

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