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Debon Securities: Policies emphasize boosting Consumer and focus on the subsequent demand recovery.
The bank recommends focusing on leading companies in sectors that have strong control over upstream and downstream supply chains, channels, and products amid fundamental changes, as well as sectors where year-round profits are likely to exceed expectations due to cost advantages.
Hong Kong stocks move | JIUMAOJIU (09922) fell over 4% in the late session, store and Operation optimization still require time, Institutions say the Industry competition has yet to show signs of easing.
JIUMAOJIU (09922) dropped over 4% in the late trading, as of the time of writing, it fell by 4.12%, priced at 2.79 Hong Kong dollars, with a transaction amount of 44.8458 million Hong Kong dollars.
[New Stock IPO] Zhongtai International points out that the valuation of Gu Ming (01364) is slightly higher than that of Cha Baidao, giving it an IPO rating of 'neutral.'
Jinwu Finance | Guming (01364) starts its initial public offering today. Zhongtai International states that the company is a rapidly growing ready-to-drink beverage enterprise, mainly selling fruit tea, milk tea, and coffee among other drinks. Zhongtai International benchmarks against Hong Kong stock tea beverage companies, including Naixue's Tea (02150) and Chabaidao (02555); dining groups HAIDILAO (06862) and JIUMAOJIU (09922). In terms of valuation, the company's IPO price corresponds to a PE ratio of 16.9-19.3 times for 2023, with a PB ratio of 31.3-35.8 times, and the company's Operational Indicators align with those of its peer Chabaidao (02555).
Hong Kong stocks have shown fluctuations | Most Dining stocks are rising as the Consumer activity during the Spring Festival is high. Under policy stimulation, terminal Dining is expected to demonstrate resilience first.
Most Dining stocks rose; as of the time of writing, XIABUXIABU (00520) is up 8.43% at HK$0.9; HAIDILAO (06862) is up 6.42% at HK$14.92; JIUMAOJIU (09922) is up 6.06% at HK$2.8.
Most Dining stocks have rebounded, with HAIDILAO (06862) rising by 5.56%. Institutions indicate that the Industry is expected to welcome a demand rebound and a price turning point.
Jinwu Finance | Dining stocks mostly warmed up. As of the time of writing, HAIDILAO (06862) rose by 5.56%, JIUMAOJIU (09922) rose by 4.17%, XIABUXIABU (00520) rose by 4.82%, Helen's (09869) rose by 2.39%, and DPC DASH (01405) rose by 1.57%. In terms of news, China International Capital Corporation released a Research Report stating that hotel and tourism related to travel will face overall "stable volume and decreased prices" in 2024 under last year's high base, with dining, duty-free, and personal services continuing to face volume and price pressure since 2023. Looking ahead to 2025, with the trend of chain rate and concentration.
Dining stocks fell overall, HAIDILAO (06862) dropped by 5.93%. Morgan Stanley pointed out that the demand expectations for China's dining channels are low before the Spring Festival.
Jinwu Finance | Dining stocks fell broadly, with XIABUXIABU (00520) down 6.82%, HAIDILAO (06862) down 5.93%, JIUMAOJIU (09922) down 4.96%, Helen's (09869) down 3.92%, and YUM CHINA (09987) down 2.1%. Recently, Morgan Stanley conducted research on Dealers in northern, eastern, and southern China to understand sales trends before the Spring Festival and targets for 2025, finding significant differences in market performance across categories, with generally low demand expectations. The firm mentioned that, in terms of valuation and risk, each company faces different risks, such as cost, competition, and demand.
