Goldman Sachs: Guotai Junan International's target price slightly decreased to HK$19, maintaining a "buy" rating.

Goldman Sachs released a research report stating that the recent stock price of Yihai International has fallen by 13%, believed to be due to market concerns about fluctuations in raw material costs and non-operating projects. The report emphasized that the company's fundamental strength and growth visibility remain stable. Third-party business maintained strong double-digit growth in the first five months of this year. The stock's "buy" rating is maintained, with the target price slightly lowered from HK$19.1 to HK$19. The bank expects Yihai International's core operating profit for the full year 2026 to increase by 17%. After taking into account the reduction in government subsidies and exchange losses due to the appreciation of the Renminbi, the net profit for the year is expected to increase by 10% year-on-year to 943 million RMB.