According to a research report published by Daiwa, revenue increased 8% year on year, net profit increased 8% year on year, and gross margin reached 41.8%. The performance is in line with the bank and market expectations. It is expected to meet the guidelines for revenue growth of 8% to 10%, gross profit margin of 41% to 42%, and net profit growth for the first half of the year. The bank believes that 361 degrees will benefit from K-type consumer trends, and its cost-effective positioning makes its performance more resilient than its peers. The company recently appointed Simon Men, the former vice president of sales at Nike China, and expects more top international brand talents to join, and the product, channel and execution capabilities are expected to improve. New product order fairs will be held at 361 in the first and second quarters of next year. Yamato estimates that orders will record a high increase in the number of units at that time. Yamato raised its target price of 361 degrees from HK$4.7 to HK$5.4, corresponding to a projected price-earnings ratio of 7.5 times over the next 12 months, maintaining a “outperforming the market” rating.

According to a research report published by Daiwa, revenue increased 8% year on year, net profit increased 8% year on year, and gross margin reached 41.8%. The performance is in line with the bank and market expectations. It is expected to meet the guidelines for revenue growth of 8% to 10%, gross profit margin of 41% to 42%, and net profit growth for the first half of the year. The bank believes that 361 degrees will benefit from K-type consumer trends, and its cost-effective positioning makes its performance more resilient than its peers. The company recently appointed Simon Men, the former vice president of sales at Nike China, and expects more top international brand talents to join, and the product, channel and execution capabilities are expected to improve. New product order fairs will be held at 361 in the first and second quarters of next year. Yamato estimates that orders will record a high increase in the number of units at that time. Yamato raised its target price of 361 degrees from HK$4.7 to HK$5.4, corresponding to a projected price-earnings ratio of 7.5 times over the next 12 months, maintaining a “outperforming the market” rating.