Group 1 - UBS upgraded the rating of China Resources Mixc Lifestyle (01209) to "Buy" due to the company's superior ability to discover emerging brands compared to peers [1] - The recovery signs in the domestic luxury retail market, along with a decrease in mall supply from 2026 to 2027, are expected to benefit existing malls' rental growth [1] - These factors are anticipated to enhance the company's earnings visibility from 2025 to 2027, with an expected annual compound growth rate of 15% [1] Group 2 - The company's dividend payout ratio is at 100%, including special dividends, leading to an increase in the target price from HKD 38 to HKD 48 [1]