Glonghui, March 29 | Jefferies released a report saying that Bubble Mart's net profit increased 128% year-on-year to 1.08 billion yuan last year. The Group is leading to a sales increase of more than 30% this year, and the net profit margin (excluding non-core projects) exceeds the target of 20% in the medium to long term. The bank raised the company's net profit forecast for this year and next year by 7% and 9% respectively. The target price was raised from HK$22.6 to HK$30.1. Considering strong sales momentum this season, management raised sales growth targets, and IP monetization presented good opportunities, and the investment rating was upgraded from “hold” to “buy”.