CICC raised the target price of Maotai to HK$44.6, firmly developing two major directions of IP joint name and brand going global

GoldenOctober2024

Jinshi data news on November 1st, Zhongjin published a report pointing out that the bank participated in the 2024 global brand strategic upgrade results release conference held by Mini Good (09896.HK), and conducted research on the newly opened Shanghai MINISOLAND store in October, with the store traffic like crucian carp, and the Harry Potter IP sales hot. The bank pointed out that the company is firmly developing two major directions: IP joint name and brand going global, maintaining its earnings forecast of 2.15 and 2.59 RMB per share for the next two years, and maintaining its outperform industry rating; considering the fourth quarter entering the peak season to catalyze valuation improvement, raising the H share target price by 9% to 44.6 Hong Kong dollars, corresponding to the forecast non-IFRS P/E ratio of 18 and 15 for the next two years.

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