Haitong International: Pinduoduo (09992.HK) continues its high growth trend, raising the target price to 316.7 Hong Kong dollars.

Zhixin Finance APP has learned that Haitong International has released a research report stating that it maintains a target price of 316.7 Hong Kong dollars for Pop Mart (09992.HK) with a forecasted P/E ratio of 35 times for the year 2025, corresponding to a target market value of 42.19 billion Hong Kong dollars, representing a 60% increase in target price; It maintains a "outperform the market" rating. The bank points out that Pop Mart's performance in the first half of this year exceeded expectations, believing that the company's performance growth compared to the previous year is mainly due to: the increasing global recognition of Pop Mart's IP, the promotion of various product categories leading to rapid growth in income in various regions; The proportion of overseas income continues to increase, the change in income structure has a positive impact on gross profit margin and net profit margin, while the scale effect is increasing; Product costs continue to be optimized, expense control is strengthened, and profitability is improved.