Lancang Ancient Tea (06911) rose more than 16% and rose 16.43% at press time to HK$14.46. The stock price reached a record high, with a turnover of HK$1.37 million.
The Zhitong Finance App learned that Lancang Ancient Tea (06911) rose by more than 16% and rose 16.43% to HK$14.46 at press time. The stock price reached a record high, with a turnover of HK$1.37 million.
According to reports, Lancang Ancient Tea is one of the very few tea companies in China with experience in raw material management, product development, production, end customer reach, and member service. It is a national-level key leading enterprise in agricultural industrialization, and is the third largest Pu'er tea company in China in terms of revenue. According to Frost & Sullivan statistics, China's tea market will reach 331.8 billion yuan in 2022, and is expected to reach 441.2 billion yuan in 2027; of these, the Pu'er tea market will reach 24.4 billion yuan in 2027. The statistics forecast that from 2022 to 2027, the growth of Pu'er tea, black tea, white tea and flavored tea will be impressive. Among them, the compound annual growth rate of Pu'er tea will reach 7%, and the tea industry and market segments will maintain strong vitality.
As of the first half of 2023, the company has about 3,700 tons of tea and tea leaves mainly from the three major Pu'er tea producing regions of Pu'er, Lincang and Xishuangbanna, which can respond to evolving market demand in a timely manner and ensure long-term stable production of products. According to Frost & Sullivan's report, the company was the largest buyer of Jingmaishan ancient tea tree hair tea during the reporting period. The company believes that its brand image and the popularity of its products will further increase. Among them, Pu-er tea products under the Jingmai series are prominent, thereby stimulating sales of Pu-er tea products.