Haitong International: Maintains AUSNUTRIA "Outperform" rating with a target price of HKD 3.1

Haitong International maintains AUSNUTRIA's "Outperform" rating, with a target price of HKD 3.1. It is expected that the operating revenue for 2025-2027 will be 7.67 billion, 7.88 billion, and 8.04 billion yuan respectively, with net profit attributable to the parent company at 310 million, 340 million, and 390 million yuan. The company's overseas market growth is significant, especially in the Middle East and North America, which grew by 54.2% and 138.7% respectively. Through the upgrade of the internal code system and channel inventory adjustment, AUSNUTRIA has demonstrated good resilience in a complex market environment and is expected to maintain steady growth