Research Report Insights | Huaxing Securities: Reiterates 'Buy' rating for Morning Glory Co., Ltd., lowers target price by 40% to RMB 33.8.

Huaxing Securities recently issued a research report indicating that Morning Glory Co., Ltd.’s 3Q25 performance shows marginal improvement; the decline in its traditional business has narrowed, while its Jiumu brand is expanding steadily. The firm maintains a “Buy” rating but lowers the target price by 40% to RMB 33.80, representing a 20x P/E ratio for 2026. The company is focusing on reducing volume while improving quality at the product level, increasingly offering products with strong functionality, emotional value, and IP-empowered features. On the channel side, it is partnering with stationery, cultural, and sundry goods stores as well as boutique bookstores located in shopping malls, aiming to create model flagship stores and enhance cooperation with leading large-scale stores in the industry, thereby guiding premium school-proximity stores. These transformations in product and channel strategies have driven a narrowing decline in revenue for Morning Glory’s traditional business and improved gross

Gelonghui FinanceNov 27 16:31 · Ratings

Morning Glory Co., Ltd. (603899): Narrowing Decline in Traditional Business, Steady Expansion of Jiumu

Marginal improvement in 3Q25 performance; narrowing declines in traditional businesses, steady expansion of Jiumu; maintain Buy rating,下调 target price by 40% to RMB 33.80, corresponding to 20 times 2026 P/E. Marginal improvement in 3Q25 performance:

Huaxing SecuritiesNov 25 00:00

Morning Glory Co., Ltd. (603899): Profitability Enhanced by Product Mix Optimization; Accelerated Growth Recovery for Colipu

The company released its Q3 2025 earnings report, with performance in line with expectations: revenue for Q1-Q3 of 2025 reached RMB 17.328 billion, representing a year-over-year increase of 1.25%; net profit attributable to shareholders was RMB 948 million, reflecting a year-over-year decrease of 7.18%; non-recurring net profit attributable to shareholders was RMB ...

Shenwan Hongyuan ResearchNov 16 14:17

Morning Glory Co., Ltd. (603899): Revenue improvement driven by Colipro.

The company released its Q3 2025 earnings report. In Q3 2025, the company achieved revenue of RMB 6.52 billion, a year-on-year increase of 7.5%; net profit attributable to shareholders was RMB 390 million, a year-on-year increase of 0.6%; non-GAAP net profit attributable to shareholders was RMB 340 million, a year-on-year decrease of 5.7%.

Tianfeng SecuritiesNov 12 00:00

Research Report Insights | Zhejiang Securities: Reiterates 'Buy' Rating for Morning Glory Co., Ltd., Confident in the Company’s Long-Term Growth Potential

According to a research report by Zheshang Securities, Morning Glory Co., Ltd. achieved a net profit attributable to shareholders of RMB 948 million in the first three quarters of 2025, representing a year-on-year decrease of 7%; in Q3 2025 alone, the company reported a net profit attributable to shareholders of RMB 391 million, marking a year-on-year increase of 1%. The company has been actively optimizing its product mix, with strong sales performance from IP-related and high-functionality stationery products. Overseas markets continue to grow steadily, with expectations for continued double-digit growth, particularly through intensified expansion efforts in Southeast Asia and Africa. Kelipu's Q3 performance rebounded significantly, while Jiumu General Store is building momentum. A positive outlook is held for Jiumu General Store’s accelerated growth and operational improvements next year. The traditional core business continues to benefit from IP and high-functionality new products, driving ongoing optimiz

Gelonghui FinanceNov 5 14:46 · Ratings

Once criticized for holding cash, Xu Yan continues his 'cautious approach'—why did all eight of his products underperform their benchmarks?

①The Dacheng Xingyuan Qihang Fund, which faced significant controversy due to its "near-zero position," completed its portfolio construction in the third quarter. However, it experienced a notable decline in scale and underperformed its benchmark by over 13%. ②Xu Yan's eight products all maintain an equity exposure of approximately 60%, with nearly 40% allocated to cash, showing a high overlap in their top holdings.

cls.cnOct 31 20:20