Eu Yan Sang

Eu Yan Sang: DMG reiterate BUY, with TP $0.99. Note of key takeaways from meeting with CEO:
1) EYS intends to leverage on HZL’s extensive distribution network of 127
retail stores in Aus
2) Although HZL has only 3 HealthyLife outlets in Shanghai, it owns the Aurinda brand which is sold through 1,600 retail counters in China.
3) Mgt does not rule out a HK listing if China business does well ……

House remain bullish on the counter as its resilient TCM business grows on back of stronger consumer discretionary income in its main mkts and remain excited over its prospects of further penetration into China and Aus via Healthzone