In "The Big Banks," Citigroup raised the target price for YIHAI INTL to 16.6 yuan with a rating of "Outperform the Market."

Citi published a research report indicating that YIHAI INTL (01579.HK) saw a 2% year-on-year increase in revenue to 3.7 billion RMB in the second half of last year, while net profit rose 26% year-on-year to 544 million RMB; revenue from HAIDILAO was a drag factor, declining 1.8% year-on-year. Therefore, the market expects YIHAI INTL to benefit from the potential recovery of HAIDILAO, but the sales contribution from HAIDILAO's revenue is quite limited, and channel expansion remains key.

The bank further stated that immediate shopping subsidies and enhancing the capacity utilization of the Thailand factory should allow YIHAI INTL's net profit margin to remain relatively stable compared to previous years.

The bank raised YIHAI INTL's target price from 15.7 yuan to 16.6 yuan, maintaining a "outperform" rating, and adjusted its net profit forecasts for this year and next year upward by 2.4% and 0.7%, respectively