＜Research＞Citi: EAST BUY Reduces Reliance on Star Anchors & Focuses on Realising Sustainable Value Creation From its Own Products

AASTOCKS

2024-07-26 11:32

Citi noted in a report that EAST BUY (01797.HK) has announced the departure of anchor Dong Yuhui, and the company sold livestream platform Time ...

　　Citi noted in a report that EAST BUY (01797.HK) -2.560 (-20.645%) Short selling $13.13M; Ratio 8.018% has announced the departure of anchor Dong Yuhui, and the company sold livestream platform “Time with Yuhui” to Dong for more than RMB76 million. The company also announced a share buyback programme of up to RMB500 million.

　　The broker sees these actions as a key step in the company's strategic transformation, demonstrating its commitment to reducing its reliance on celebrity anchors, streamlining operations and focusing on sustainable value creation from its own products, which now account for about 50% of total GMV.

　　Related NewsBOCOMI Expects EAST BUY (01797.HK) FY2025 Profit to Drop 20%+ after Excl. Yuhui Tongxing Contribution

　　Citi maintained its Buy rating on EAST BUY with a target price of $36, and is paying attention to the company's execution in repositioning itself for sustainable growth.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-25 16:25.)

　　AAStocks Financial News

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