Understanding the Market | GIANT BIOGENE rises over 5% again, with impressive GMV growth for KefuMei and KeLiJin online, the company raises its 2024 performance guidance

GIANT BIOGENE rose over 5% again, as of the time of publication, it increased by 4.87%, reporting HKD 57.05, with a trading volume of HKD 44.0996 million. According to news, data from Magic Mirror shows that the GMV growth rate of GIANT BIOGENE's KefuMei brand beauty and skincare products in the Tmall and Taobao channels will reach 42% in 2024, ranking second in the Maotao channel, second only to Ruyi. CMB International pointed out that by the end of 2024, the online GMV growth of KefuMei and KeliJin will be impressive. The company has raised its performance guidance for 2024, expecting revenue growth of over 50% and a net profit attributable to shareholders growth of around 40%. Citigroup also stated that it expects GIANT BIOGENE's revenue in 2024 to increase by 52% year-on-year, and net profit to increase by 40%, consistent with management's guidance. At the same time, it is expected that net profit will grow by 27% and 21% in 2025-2026, benefiting from revenue growth of 30% and 26%, respectively. Therefore, considering the slight dilution of equity after the share placement in April 2024, Citigroup expects the group's three-year net profit compound annual growth rate to be 29%, and the compound annual growth rate of earnings per share to be 28%