PRADA (01913) experienced a surge of over 4% in the morning session, with a current increase of 4%, trading at HKD 51.25, and a transaction volume of HKD 60.26 million. Recently, PRADA announced its Q3 2025 results. According to Citibank, the company's retail sales in the third quarter roughly met market expectations, with a year-on-year increase of 7.6% at constant exchange rates. Retail sales for the PRADA and Miu Miu brands also aligned closely with market forecasts, declining by 0.8% and rising by 29% year-on-year, respectively. Over a two-year period, both brands showed steady quarterly performance, with PRADA's core brand experiencing year-on-year increases of 1% in both the second and third quarters this year; Miu Miu saw significantly higher year-on-year increases of 136% and 134%. Citibank noted that although PRADA’s core brand in the Chinese market still faces negative growth, there has been sequential improvement in Q3. Markets in the Americas, Europe, and Japan all reported positive growth, driven by strong local demand and a slight recovery in tourism. PRADA’s management believes the worst period in China has passed. Looking ahead, sales have been improving since October, but management cautioned that the fourth quarter poses challenges due to tough comparisons, and the last six weeks will be critical.