CICC has released a research report stating that NEWBORNTOWN (09911) is expected to achieve a year-on-year revenue growth of 37.6% to 39.9% in the first three quarters, with projected revenue ranging between RMB 4.91 billion and RMB 4.99 billion. The firm maintains its revenue and profit forecasts for NEWBORNTOWN for this year and the next, reiterating an "Outperform" rating. The target price has been raised by 7.4% to HK$14.5.