Core Viewpoint - Pop Mart (9992.HK) shows strong performance with an intraday increase of 6.74%, reaching HKD 291.4, following an upgrade from Morgan Stanley from "Neutral" to "Overweight" and an increase in target price from HKD 300 to HKD 320, citing attractive valuation after profit forecast adjustments [1] Group 1 - Morgan Stanley raised its rating on Pop Mart from "Neutral" to "Overweight" [1] - The target price for Pop Mart was increased from HKD 300 to HKD 320 [1] - The report highlights strong sales momentum for Pop Mart's popular IPs "Labubu" and "Twinkle Twinkle," leading to a 5% to 7% upward adjustment in profit forecasts for 2025 to 2027 [1]

Group 1 - Southbound funds net bought Hong Kong stocks worth 11.942 billion HKD on September 1, with notable purchases including Alibaba-W (4.921 billion HKD), Tencent Holdings (1.234 billion HKD), and BYD Company (0.809 billion HKD) [1] - Southbound funds have continuously net bought Alibaba for 7 days, totaling 10.89652 billion HKD, and have net sold Xiaomi for 7 days, totaling 4.9962 billion HKD [1] Group 2 - JPMorgan raised the target price for Alibaba from 135 HKD to 165 HKD, an increase of 22%, while maintaining an "Overweight" rating [2] Group 3 - Tencent Holdings repurchased 910,000 shares for 550.5 million HKD on September 1 [3] - BYD's August sales of new energy vehicles reached 373,626 units, up from 373,100 units in the same month last year, with cumulative sales from January to August at 2.864 million units, a year-on-year increase of 23% [3] - Xiaomi's vehicle deliveries exceeded 30,000 units in August, with plans to open 32 new stores in September, expanding its presence in 14 cities [3] - The secondary market trading of Pop Mart's "Labubu" in Japan has increased significantly, with transaction volume in July 2025 rising to 66 times compared to early 2025 [3]