HK Stock Market Move | GIANT BIOGENE (02367) rose more than 5%, with excellent performance during the 3.8 day sales promotion. UBS raised its earnings forecast and target price for the company.

GIANT BIOGENE (02367) rose more than 5%, reaching a 5.01% increase to 72.35 Hong Kong dollars by the time of writing, with a trading volume of 315 million Hong Kong dollars. On the news front, according to a report from the Cosmetics Observation WeChat account, on March 4th, Tmall officially released the "3.8 Festival" Renewal Week Fast-moving Consumer Goods (FMCG) industry brand transaction list for the first day. The list shows that GIANT BIOGENE's Comfy brand jumped into the top 4 of the list, with a ranking improvement of 9 places compared to last year. UBS raised its profit forecast for the company for the years 2024-2026 by 3% to 4%, reflecting the latest revenue and profit guidance from last year, as well as higher revenue and profit forecasts for this year and next due to strong performance on Women's Day. UBS research report pointed out that with the strong performance of the Comfy collagen protein bar flagship product, as well as the sales of the new "Focus Series" exceeding expectations in the second half of last year, they are confident in the company's growth trajectory this year. Preliminary data show strong performance of the Comfy brand in the ongoing Women's Day shopping festival. The bank reiterated a "buy" rating for GIANT BIOGENE and raised its target price from 63.5 Hong Kong dollars to 82 Hong Kong dollars.