Gelonghui, April 3 丨 Bank of America Securities published a report. The rating of Blue Moon Group (6993.HK) was upgraded from “neutral” to “buy”, and the target price was raised from HK$5.8 to HK$6. The bank was not surprised by Blue Moon's weak performance last year. However, the guidance provided by management at the investor meeting exceeded expectations. The target sales growth is 12 to 14%. The net profit margin target also reached 12% to 14% as input costs slowed and low-cost raw materials were locked in, compared to 7.7% last year. According to the bank's channel survey, the company had a solid start this year, with sales increasing by more than 20% in the first two months. At the same time, net profit after tax is expected to nearly double year-on-year, gross margin will rise 5 percentage points to 63%, and net profit margin is expected to increase 5.7 percentage points to 13.4%. The stock is currently reported at HK$4.99, with a total market value of HK$29.3 billion.