CICC: Maintains SF Holding's "outperform" rating with a target price of HK$13.50.

According to the financial news app, Zhijun released a research report stating that considering the potential growth in orders for SF Express (09699.HK) may exceed the bank's expectations, the bank has raised its revenue forecast for 2025/2026 by 4.7%/5.5% to 20.343 billion yuan/25.711 billion yuan; due to the uncertainty in price trends in the food delivery industry competition, the bank has temporarily maintained its net profit forecast for 2025/2026 at 250 million yuan/406 million yuan. The bank maintains its "outperform the industry" rating and target price at 13.50 Hong Kong dollars, corresponding to 0.6/0.4 times P/S for 2025/2026, with an upward potential of 26% from the current price, which corresponds to 0.4/0.3 times P/S for 2025/2026.