Bank of China International released a research report saying that the second-quarter operating data for the second quarter was weaker than expected. The core TEP brand and Sauchy respectively recorded a year-on-year decline in the number of units in China and a year-on-year increase in the number of low units, all falling short of the bank's expectations. Bank of China International lowered its earnings forecast per share by 2% to 3% for 2026 to 2028 to reflect weak retail sales in the second quarter and the impact of deleveraging physical retail operations. The target price was lowered from HK$5 to HK$4.3, with a rating of “buy”.

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