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<Research>UBS Slightly Cuts BOSIDENG (03998.HK) TP to $5.87 w/ Rating Buy
BOSIDENG (03998.HK)'s annual results for the year ended March 2025 was in line with expectations, with revenue growing 11.6% YoY and gross profit margin slipping 2.3 ppts to 63...
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<Research>UBS Slightly Cuts BOSIDENG (03998.HK) TP to $5.87 w/ Rating Buy
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BOSIDENG (03998.HK)  -0.100 (-2.155%)    Short selling $10.48M; Ratio 12.807%   's annual results for the year ended March 2025 was in line with expectations, with revenue growing 11.6% YoY and gross profit margin slipping 2.3 ppts to 63.8%, mainly due to the growth in lower-margin OEM business, a shift in business structure towards lower-margin sun protection apparel, fluctuations in raw material costs and higher growth in wholesale business, UBS released a research report saying.

However, strict cost control and improved operational efficiency led to an increase in operating profit margin by 0.3 ppts to 19.2% and a 14.3% hike in net profit, outpacing revenue growth. Inventory days rose by 3 days to 118 days but remained at a healthy level. Dividend payout ratio was 84%.

Related NewsBOSIDENG Full-Year NP Up 14.3% to RMB3.514B; Final DPS HKD22 Cents
Therefore, the broker slightly cut its target price for BOSIDENG from $5.92 to $5.87, based on a 4% decrease in 2026-2028 net profit forecasts, with rating at Buy.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-02 16:25.)

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