CMB International Securities analyst Walter Woo maintained a Buy rating on DPC Dash Limited on August 29 and set a price target of HK$105.96.
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Walter Woo has given his Buy rating due to a combination of factors that highlight the robust potential of DPC Dash Limited. The company’s first half of 2025 results exceeded expectations, particularly in operational expenditures, despite a slight decline in same-store sales (SSS). This performance, coupled with growth drivers such as innovative products and efficient delivery services, supports a positive outlook for DPC’s expansion in both tier 1 and non-tier 1 cities.
In tier 1 cities, the company benefits from product innovation and improved delivery services, which have contributed to positive sales growth per store. Additionally, the use of new channels like JD and Ele.me has attracted new customers, enhancing the brand’s market presence. In non-tier 1 cities, the introduction of delivery services and new product launches are expected to drive growth, supported by lower operational costs. These strategic initiatives are anticipated to sustain healthy growth and improve operating margins across different city tiers.