Morgan Stanley gave 00926-HK a synchronized rating with the big market, with a target price of 3.60 yuan. Based on the stock's price-to-earnings ratio of 21.7 times, the share price has risen 20% since its listing in September, referring to Bishengyuan as the largest slimming tea company in the mainland in terms of retail sales price.

According to Morgan Stanley, the company accounted for 25% of the laxative retail market and 16% of the slimming product market in 2009, with a compound annual sales growth rate of 99% and a profit compound growth rate of 92% from 2007 to 2009.

Bishengyuan closed at HK $3.720 on Friday.