Guosen Securities released a research report saying5lionpragmatic, maintain the "Buy" rating of Toubo (06110), based on the slow recovery of consumer demand since the beginning of 20245lionpragmaticIn the general environment, the forecast for fiscal year 2025-2026 will be lowered, and the net profit for fiscal years 2025-2027 is expected to be 235lionpragmatic.0/255lionpragmatic.1/2.70 billion yuan, and the reasonable valuation range was lowered to HK$6.8 -7.2.

The bank said it is optimistic about the company's profitability and long-term cash returns under efficient operations. In fiscal year 2024, the company's revenue and net profit achieved high-quality growth, and profit margins steadily increased. At the same time, based on the company's stable cash-generating ability, it lays the foundation for high dividend dividends. The annual dividend dividend payout ratio reached 101%. Based on the closing price on May 22, the dividend yield reached 6.8%.