大行评级｜瑞银：上调毛戈平目标价至100.6港元 上调2025年至27年盈利预测

Group 1 - The core viewpoint of the report indicates that 毛戈平 achieved a revenue of 2.59 billion yuan and a net profit of 670 million yuan in the first half of the year, resulting in a net profit margin of 26% [1] - The marketing expense ratio improved by 2.4 percentage points, attributed to enhanced brand equity and a more balanced channel mix [1] - UBS raised its earnings forecast for the company for the years 2025 to 2027 by 6% to 9%, and increased the target price from 93.6 HKD to 100.6 HKD, maintaining a "neutral" rating [1]