Restaurant stocks picked up today. As of press release, Jiumaojiu (09922) rose 6.64% to HK$8.83; Haidilao (06862) rose 5.71% to HK$17.04; and Xiabuxiabu (00520) rose 4.21% to HK$3.22.
The Zhitong Finance App learned that catering stocks are picking up today. As of press release, Jiumaojiu (09922) rose 6.64% to HK$8.83; Haidilao (06862) rose 5.71% to HK$17.04; Xiabuxiabu (00520) rose 4.21% to HK$3.22; Nai Xue's Tea (02150) rose 4.08% to HK$3.83; and Yum China (09987) rose 1.63% to HK$362.
According to the news, data recently released by the National Bureau of Statistics shows that in October 2023, the country's food and beverage revenue was 480 billion yuan, an increase of 17.1% over the previous year; the food and beverage revenue for units above the limit was 120.5 billion yuan, an increase of 18.0% over the previous year. From January to October 2023, the country's food and beverage revenue was 419.5 billion yuan, up 18.5% year on year; food and beverage revenue for units above the limit was 1094.1 billion yuan, up 18.8% year on year.
In addition, Anxin International recently pointed out that the Hong Kong stock market's offline catering targets are of high quality, have strong brand power within the segmented circuit, and also have strong financial strength. Expansion strategies have generally been adopted during the pandemic, taking advantage of the low market to occupy a better position, and labor and rent costs have declined. Therefore, the bank believes that the recovery of these listed companies will be higher than the industry average. The current valuation level is low, and it has already entered the layout range.