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[Brokerage Focus] Goldman Sachs pointed out that in November, same-store sales in the dining industry continued to be sluggish, and the policy stimulus has not had a significant uplifting effect on the covered companies.
Jinwu Finance | Goldman Sachs Research Reports indicate that in November, same-store sales in the Dining industry continued to be weak, with fluctuating demand. Regarding policy stimulus, the bank has observed that more cities/provinces have launched dining consumer vouchers; however, it believes the impact varies by brand and region, and the companies it covers have generally not seen significant uplifting effects. In terms of competition, the competition in the fast food and coffee sectors remains intense but stabilizes in an orderly manner. The bank noted that HAIDILAO (06862/Neutral) experienced a slight year-on-year decline in average table turnover rate in November, but it believes this is understandable considering the higher baseline compared to October and the volatility of demand.
Hong Kong stocks are moving differently | Dining stocks rose broadly in the morning. Consumer vouchers have a direct stimulating effect on the Dining industry. Institutions claim that Consumer spending is expected to welcome a new round of rebound and rec
Dining stocks surged in early trading. As of the time of writing, HELEN'S (09869) rose by 8.16%, priced at 3.18 HKD; DPC DASH (01405) increased by 7.39%, priced at 87.9 HKD; JIUMAOJIU (09922) grew by 5.66%, priced at 4.11 HKD; HAIDILAO (06862) went up by 4.83%, priced at 17.78 HKD.
Dining stocks have surged again with DPC DASH (01405) rising by 8.25%. Institutions indicate that potential policies such as consumer vouchers are expected to stimulate dining demand.
Jingwu Financial News | Dining stocks are gaining momentum again. As of this report, DPC DASH (01405) rose 8.25%, Helens (09869) rose 4.76%, JIUMAOJIU (09922) rose 2.83%, HAIDILAO (06862) rose 2%, and YUM CHINA (09987) rose 1.15%. On the news front, Chen Ximiao, Chief Analyst of Overseas Strategy at GTJA, stated that the sensitivity of the Hong Kong stock market to external shocks is expected to decrease in 2025, and more attention should be given to returning to its own logic. Regarding the trend of the Hong Kong stock market in 2025, it is expected to mainly show a N-shaped upward fluctuation pattern, with stages not lacking in volatility.
Hong Kong stocks moved differently | Dining stocks rose in the morning as significant meetings released Bullish Signals. Dining consumption vouchers help the Dining Industry recover.
Dining stocks rose in the morning session. As of the time of writing, Naixue's Tea (02150) increased by 7.24% to 1.63 HKD; XIABUXIABU (00520) rose by 7.08% to 1.21 HKD; Helen's (09869) climbed by 5.82% to 3.09 HKD; HAIDILAO (06862) went up by 5.18% to 17.46 HKD; JIUMAOJIU (09922) increased by 3.97% to 3.93 HKD.
Morgan Stanley: Maintains jiumaojiu (09922) rating "In line with the market" with a target price of 3.8 HKD.
Morgan Stanley believes that jiumaojiu (09922) stock price will rise in the next 15 days.
Sinolink: The implementation of the three-child policy is expected to boost K12 valuations. Pay attention to the follow-up of dining consumption coupons in various regions.
Consumer vouchers directly stimulate the dining industry, helping to boost local dining industry consumer demand.
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