The Zhitong Finance App learned that catering stocks were lower across the board. As of press release, Tehai International (09658) fell 8.66% to HK$15.18; Jiumaojiu (09922) fell 5.66% to HK$5.5; and Dashi (01405) fell 1.67% to HK$56.05.
According to the news, the National Bureau of Statistics released retail sales data for social consumer goods for April 2024. Data show that in April, the country's food and beverage revenue was 391.5 billion yuan, up 4.4% year on year; in January-April, the country's food and beverage revenue was 1736 billion yuan, up 9.3% year on year. BOC Securities pointed out that due to high base factors in the same period last year, the growth rate slowed somewhat in April, but it still maintained a steady growth trend.
CITIC Securities (Hong Kong) said that there are broad prospects for restaurants to go overseas. For restaurant companies, the highly fragmented market and lack of large brands have brought opportunities to the international Chinese food market, but they are also facing many development challenges. In the future, we can focus on opportunities for leading catering companies that have a high degree of product standardization, a high taste audience, and have achieved national operations domestically, and have rich brand management experience and mature supply chain building experience to go overseas.