---
title: "\"Large Banks\" Huayan lowered the target price for SF INTRA-CITY to 19.5 yuan, growth slows but profitability improves, rating \"Buy\""
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282650674.md"
description: "Huiyan released a research report, lowering the target price for SF INTRA-CITY to 19.5 yuan, maintaining a \"Buy\" rating. Although growth is expected to slow, improved profitability and alleviated cost pressures may become catalysts for margin expansion. The forecast for instant delivery order volume has been revised down by 4% to 7%, and the overall revenue forecast has been lowered by 5% and 7%. The forecast for net profit in 2026 has been raised by 3%, while the forecast for 2027 has been lowered by 6%"
datetime: "2026-04-14T07:16:52.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282650674.md)
  - [en](https://longbridge.com/en/news/282650674.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282650674.md)
---

# "Large Banks" Huayan lowered the target price for SF INTRA-CITY to 19.5 yuan, growth slows but profitability improves, rating "Buy"

Huiyan published a research report, stating that SF INTRA-CITY (09699.HK) stock price has adjusted by 18% since early February, underperforming the Hang Seng Index's 5% decline during the same period. The firm believes that the market's concerns about the impact of slowing growth in instant delivery orders on profitability are excessive. It expects growth to remain at a high level, and easing cost pressures may become a catalyst for further expanding profit margins. The stock is maintained with a "Buy" rating, with the target price lowered from HKD 21.4 to HKD 19.5.

Considering the tightening regulatory environment, the firm has lowered its forecast for instant delivery order volume for this year and next year by 4% to 7%; overall total revenue forecasts have been reduced by 5% and 7%, respectively. However, taking into account that the "anti-involution" in the instant retail industry will alleviate competitive intensity, and that management is shifting towards efficiency optimization after the rapid expansion of the rider team, the firm has lowered its forecast for the company's unit operating costs for this year and next year by 4% to 7%. Considering all these factors, the forecast for net profit in 2026 has been raised by 3%, but the forecast for 2027 has been lowered by 6%

### Related Stocks

- [09699.HK](https://longbridge.com/en/quote/09699.HK.md)

## Related News & Research

- [Hangzhou SF Intra-city Commits RMB213 Million to New Tech-Focused Venture Fund](https://longbridge.com/en/news/285708665.md)
- [PayModum Strengthens Instant Bank Payment Offering with Floid Inc. Acquisition](https://longbridge.com/en/news/286528201.md)
- [Tempo Mails Announces Free Temporary Email Generator with Instant Disposable Email Addresses](https://longbridge.com/en/news/286676877.md)
- [Tax990 Unveils Comprehensive Resource Library for Last-Minute Form 990 Filers Before May 15 Deadline](https://longbridge.com/en/news/286136244.md)
- [12:36 ETDiagnostics Direct LLC Wins Innovation Award from Johns Hopkins](https://longbridge.com/en/news/286945918.md)