UBS: Raises Maogeping's target price to 100.6 Hong Kong dollars and raises profit forecast for 2025 to 2027

UBS released a research report stating that Maogeping's revenue in the first half of the year was 25.9 billion yuan, with a net profit of 6.7 billion yuan, resulting in a net profit margin of 26%. The improvement in the marketing expense ratio of 2.4 percentage points was mainly due to the enhancement of brand assets and a more balanced channel mix. The bank raised its profit forecast for the years 2025 to 2027 by 6% to 9%, with the target price raised from 93.6 Hong Kong dollars to 100.6 Hong Kong dollars, and a "Neutral" rating.