DBS: Initiates coverage on Pinduoduo (09992) with a "buy" rating and target price of HK$312.

According to the Zhitong Finance APP, Standard Chartered released a research report stating that Pop Mart (09992) is driven by strong demand for Labubu, Molly, and other proprietary IPs, with expected revenue and profits to increase by over 1.4 times and 1.8 times respectively this year. Based on the company's growing influence in pop culture and its stable medium-term prospects, the firm initiated a "buy" rating with a target price of HK$312, expecting annual compound growth rates of 81% and 99% for revenue and profits from 2024 to 2026.