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<Research>CICC Lifts CHICMAX (02145.HK) TP to $85 on Upbeat on Multi-brand & Multi-category Strategic Growth Potential
CHICMAX (02145.HK)'s main brand, Kans, optimized its live streaming structure on the Douyin platform, with faster growth outside of Douyin channels, according to CICC's res...
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<Research>CICC Lifts CHICMAX (02145.HK) TP to $85 on Upbeat on Multi-brand & Multi-category Strategic Growth Potential
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CHICMAX (02145.HK)  -2.000 (-2.930%)    Short selling $7.23M; Ratio 12.843%   's main brand, Kans, optimized its live streaming structure on the Douyin platform, with faster growth outside of Douyin channels, according to CICC's research report.

The second-tier products and categories showed decent minimum amount trends, while its small brand Newpage maintained high growth momentum and higher profitability. The optimization of channel and brand structure is expected to enhance overall profitability.

CICC reaffirmed its positive outlook on the Company's medium- to long-term growth potential as a multi-brand, multi-category cosmetics group, and maintained its 2025/ 2026 earnings forecasts for the Company. The broker also kept rating at Outperform.

Based on the Company's improving fundamentals and sector valuation uplift, CICC lifted its target price by 55% to $85, with a target 2025 projected PE ratio of 31x.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-19 12:25.)

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