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<Research>HSBC Research Trims Rev. Forecast for BOSIDENG on Warm Winter, Cuts TP to HKD5.7
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HSBC Global Research released a report predicting that the past warmer-than-expected winter will hinder BOSIDENG (03998.HK)'s growth relative to its own targets for FY26.

In the broker's latest forecast, BOSIDENG's revenue will grow by 4% in FY26, down from the previous forecast of 10%. Its brand revenue growth is also likely to fall short of the previous forecast of 14%, reaching only 6% YoY.

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HSBC Global Research has kept a Buy rating on BOSIDENG but cut its target price from HKD6.1 to HKD5.7.
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