HK Stock Market Move | GIANT BIOGENE (02367) up more than 4%, two major brands show strong growth, Morgan Stanley optimistic about the company's full-year performance.

GIANT BIOGENE (02367) rose more than 4%, closing at 4.31% up at 50.85 Hong Kong dollars, with a trading volume of 61.98 million Hong Kong dollars at the time of publication. On the news front, Morgan Stanley's research report pointed out that GIANT BIOGENE is expected to rise by about 70% to 80% in the next 15 days, and set its target price at 65 Hong Kong dollars, giving it a "buy" rating. The bank expects the company's earnings growth for the fiscal years 2024 and 2025 to be 37% and 23% respectively, with the upcoming full-year performance expected to be stronger than other companies covered by the bank. During last year's "Double 11" period, GIANT BIOGENE's two major brands, Kefumei and Kelijin, achieved high growth again. According to the company's "Double 11" report, the online GMV of Kefumei and Kelijin increased by more than 80% and 150% respectively year-on-year. Guoyin International believes that the rapid growth of the company's two major brands during the "Double 11" promotion period will support the company in achieving its full-year profit target (with revenue and adjusted net profit increasing slightly more than 40% and around 35% year-on-year, respectively).