Goldman Sachs has issued a research report indicating an upgrade to its net profit forecast for Want Want China for fiscal years 2025 to 2027 by 3% to 4%. This adjustment reflects stronger revenue growth driven by new product launches and channel expansion. The report also introduces forecasts for fiscal year 2028. The firm maintains a "Sell" rating on the stock but has raised the target price from HK$3.9 to HK$4.

Goldman Sachs expects Want Want China to announce its results for the second half of fiscal year 2025, ending in March of this year, in late June. The bank projects a 3% year-on-year increase in sales for the latter half of the fiscal year, while net profit is anticipated to decline by 3% compared to the same period last year. This contrasts with the first half of the fiscal year, which saw sales growth of 2% and a net profit decrease of 8%.

During the period, shipment performance was strong around the Lunar New Year holiday, with demand rebounding broadly across all channels and product categories. For the second half of the fiscal year, dairy beverages are expected to remain flat year-on-year, while rice crackers and snack products are projected to grow by 5% and 9%, respectively. In the first half of the fiscal year, these categories recorded a decline of 1%, growth of 4%, and growth of 8%, respectively.