On July 28, TINGYI rose 3.16% in regular trading, trading at HKD 11.76/share, with turnover of HKD 69.49 million.

On the news front, the company previously announced that a board meeting will be held on August 11 to review interim results for the six months ended June 30. Multiple institutions hold optimistic expectations for the first-half performance. Daiwa expects H1 recurring net profit to grow 15% year-over-year to RMB 2.433 billion, approximately 3% above market consensus. CICC also projects double-digit growth in core net profit, with reported profit expected to deliver year-over-year gains.

On the cost side, PET resin, a core packaging material, has dropped rapidly from approximately RMB 9,000/ton to roughly RMB 7,000/ton over the past two months, providing meaningful support for gross margin expansion. CICC raised its target price 5% to HKD 14.7, implying 31% upside, while Daiwa maintains an Outperform rating with a HKD 13 target. The company reported full-year gross margin improvement of 1.7 percentage points to 34.8% for fiscal year ended December, and analysts expect this favorable trend to continue into the first half.

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