Bubble Tea Surpasses 6% and Sets New Record, Valuation Approaches HK$4 Billion! Morgan Stanley: Company's Platform Value May Be Underestimated, Target Price HK$365

　　Glorious Finance August 7th｜Bubble Tea (9992.HK) surged nearly 6% to HK$293.4, setting a new record high, with valuation approaching HK$4 billion.

　　Morgan Stanley recently released a research report stating that Bubble Tea's platform value may be underestimated, as the company currently has four regional sales products, but its own IP mainly comes from Greater China, with exceptions being Crybaby from Thailand and Peach Riot from the US. Bubble Tea has tremendous potential to excavate rich artistic resources in the United States, Europe, Japan, and Southeast Asia. Therefore, the brokerage expects that Bubble Tea's IP and product portfolio will become more culturally diverse over the next 3-5 years. The brokerage believes that Bubble Tea's intrinsic value far exceeds its owned IP, which is being underestimated by the market, maintaining a "buy" rating with a target price of HK$365, equivalent to predicting this year's P/E ratio at 46 times.