MIXUE GROUP: Progressing Steadily in US Store Operations
Store Operations: MIXUE GROUP's store in Los Angeles is currently in the trial operation phase, featuring pre-sale and warm-up activities.
Business Progress: A representative from the Los Angeles operations indicated that the business is steadily advancing.
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JD Food Delivery Assists Nearly 400 Food and Beverage Brands in Exceeding 1 Million Orders
JD Food Delivery's "Double Hundred Plan": Launched to support food and beverage merchants, resulting in nearly 400 brands surpassing one million orders, doubling the previous figure in six months.
Success of Key Brands: MIXUE GROUP and Luckin Coffee, among others, have achieved over 200 million orders on JD Food Delivery, joining the "Hundred-Million-Order Club."
CICC Report: Surge in Leisure Travel Demand; Favorable Outlook for Luckin Coffee, Atour Lifestyle, CTG DUTY-FREE, and More
Spring Festival Travel Rush: The first week of the 2026 Spring Festival travel rush saw significant growth in passenger flows, with strong flight and hotel bookings, indicating a positive outlook for leisure travel demand during the holiday period.
Market Optimism: CICC expressed optimism regarding the recovery of the social services sector, anticipating that leading enterprises will experience price rebounds or restoration of same-store sales due to a stabilizing competitive landscape.
Investment Recommendations: BofAS highlighted that YUM CHINA's 4Q25 results exceeded expectations, leading to slightly raised EPS forecasts, and recommended several companies including Luckin Coffee and Atour Lifestyle Holdings for investors.
Short Selling Data: The report included short selling data for various companies, indicating varying levels of short interest, with notable figures for YUM CHINA and HAIDILAO among others.
Multiple Chinese Tea and Dining Brands Increase Prices or Reduce Discounts
Price Adjustments by Brands: Several Chinese tea and dining brands, including Luckin Coffee, NAYUKI, KFC, and McDonald's, have been increasing their takeaway prices since the second half of 2025, with KFC raising prices by an average of RMB0.8.
Discount Reductions: Cotti Coffee has begun to reduce its RMB9.9 discount across all products, while Luckin Coffee has shifted most of its beverages to a higher price range of RMB10.9-13.9, cutting back on the RMB9.9 offerings.
HSI Rises Over 600 Points; Tea Beverage Stocks Remain Weak; MIXUE Declines by 10%
Hong Kong Stock Market Performance: The Hong Kong bourse experienced a rally on the 28th, with the HSI reaching a 4.5-year high of 27,757, up 630 points or 2.3%, and a turnover of HK$176.495 million.
MIXUE GROUP Stock Decline: MIXUE GROUP's stock opened 2.5% lower and fell to HK$396, down 10.6%, following a downgrade by UBS, which cited potential short-term pressures and reduced profit forecasts.
Pressure on Tea Beverage Stocks: Several tea beverage stocks, including CHABAIDAO and GUMING, faced declines of 2-3%, diverging from the overall market trend.
Short Selling Activity: The short selling ratios for various stocks, including MIXUE GROUP and others in the tea beverage sector, indicate increased market skepticism, with significant short selling reported.
<Research>SPDBI Identifies Certain H Shares with Increased Market Capitalization at Lock-up Period's Conclusion in the Coming Year (Table)
Stock Performance Overview: Various Hong Kong stocks showed mixed performance, with ZIJIN GOLD INTL and MINIMAX-WP experiencing significant gains, while others like GUMING and CHERY AUTO faced declines.
Short Selling Data: Short selling activity varied across stocks, with FWD showing a high short selling ratio of 16.999%, while NANSHAN AL INTL had a notably low ratio of 0.135%.
Market Capitalization Insights: The market capitalization at the end of the lock-up periods for these stocks ranges from 21.4 billion to 406.6 billion, indicating varying levels of investor interest and company valuations.
Future Lock-up Dates: Key lock-up expiration dates for these stocks are set between early 2026 and late 2026, which may impact trading strategies and stock performance as these dates approach.
HSI Declines 11 Points at Midday; POP MART Soars Over 8%; Consumer Stocks Rise Against Market Trends
Market Performance: The HSI closed down 11 points at 26,552, with the HSCEI and HSTECH also experiencing slight declines. Total market turnover for the half-day was HKD129.845 billion.
Tech Stock Movements: Major tech stocks like TENCENT and BIDU-SW fell by approximately 1.5%, while JD-SW and BILIBILI-W saw gains of around 1.1% and 1.2%, respectively.
Sector Highlights: Consumer stocks performed well, with POP MART surging 8.5% after announcing a share buyback, while pharmaceutical stocks like HENGRUI PHARMA and WUXI APPTEC faced significant declines.
Economic Indicators: China's Fixed Asset Investment for December showed a year-on-year decrease of -3.8%, and the GDP growth rate for Q4 was reported at 4.5%, slightly below expectations.
JD Food Delivery Assists Nearly 400 Food and Beverage Brands in Exceeding 1 Million Orders
JD Food Delivery's "Double Hundred Plan": Launched to support food and beverage merchants, resulting in nearly 400 brands surpassing one million orders, doubling the previous figure in six months.
Success of Key Brands: MIXUE GROUP and Luckin Coffee, among others, have achieved over 200 million orders on JD Food Delivery, joining the "Hundred-Million-Order Club."
CICC Report: Surge in Leisure Travel Demand; Favorable Outlook for Luckin Coffee, Atour Lifestyle, CTG DUTY-FREE, and More
Spring Festival Travel Rush: The first week of the 2026 Spring Festival travel rush saw significant growth in passenger flows, with strong flight and hotel bookings, indicating a positive outlook for leisure travel demand during the holiday period.
Market Optimism: CICC expressed optimism regarding the recovery of the social services sector, anticipating that leading enterprises will experience price rebounds or restoration of same-store sales due to a stabilizing competitive landscape.
Investment Recommendations: BofAS highlighted that YUM CHINA's 4Q25 results exceeded expectations, leading to slightly raised EPS forecasts, and recommended several companies including Luckin Coffee and Atour Lifestyle Holdings for investors.
Short Selling Data: The report included short selling data for various companies, indicating varying levels of short interest, with notable figures for YUM CHINA and HAIDILAO among others.
Multiple Chinese Tea and Dining Brands Increase Prices or Reduce Discounts
Price Adjustments by Brands: Several Chinese tea and dining brands, including Luckin Coffee, NAYUKI, KFC, and McDonald's, have been increasing their takeaway prices since the second half of 2025, with KFC raising prices by an average of RMB0.8.
Discount Reductions: Cotti Coffee has begun to reduce its RMB9.9 discount across all products, while Luckin Coffee has shifted most of its beverages to a higher price range of RMB10.9-13.9, cutting back on the RMB9.9 offerings.
HSI Rises Over 600 Points; Tea Beverage Stocks Remain Weak; MIXUE Declines by 10%
Hong Kong Stock Market Performance: The Hong Kong bourse experienced a rally on the 28th, with the HSI reaching a 4.5-year high of 27,757, up 630 points or 2.3%, and a turnover of HK$176.495 million.
MIXUE GROUP Stock Decline: MIXUE GROUP's stock opened 2.5% lower and fell to HK$396, down 10.6%, following a downgrade by UBS, which cited potential short-term pressures and reduced profit forecasts.
Pressure on Tea Beverage Stocks: Several tea beverage stocks, including CHABAIDAO and GUMING, faced declines of 2-3%, diverging from the overall market trend.
Short Selling Activity: The short selling ratios for various stocks, including MIXUE GROUP and others in the tea beverage sector, indicate increased market skepticism, with significant short selling reported.
<Research>SPDBI Identifies Certain H Shares with Increased Market Capitalization at Lock-up Period's Conclusion in the Coming Year (Table)
Stock Performance Overview: Various Hong Kong stocks showed mixed performance, with ZIJIN GOLD INTL and MINIMAX-WP experiencing significant gains, while others like GUMING and CHERY AUTO faced declines.
Short Selling Data: Short selling activity varied across stocks, with FWD showing a high short selling ratio of 16.999%, while NANSHAN AL INTL had a notably low ratio of 0.135%.
Market Capitalization Insights: The market capitalization at the end of the lock-up periods for these stocks ranges from 21.4 billion to 406.6 billion, indicating varying levels of investor interest and company valuations.
Future Lock-up Dates: Key lock-up expiration dates for these stocks are set between early 2026 and late 2026, which may impact trading strategies and stock performance as these dates approach.
HSI Declines 11 Points at Midday; POP MART Soars Over 8%; Consumer Stocks Rise Against Market Trends
Market Performance: The HSI closed down 11 points at 26,552, with the HSCEI and HSTECH also experiencing slight declines. Total market turnover for the half-day was HKD129.845 billion.
Tech Stock Movements: Major tech stocks like TENCENT and BIDU-SW fell by approximately 1.5%, while JD-SW and BILIBILI-W saw gains of around 1.1% and 1.2%, respectively.
Sector Highlights: Consumer stocks performed well, with POP MART surging 8.5% after announcing a share buyback, while pharmaceutical stocks like HENGRUI PHARMA and WUXI APPTEC faced significant declines.
Economic Indicators: China's Fixed Asset Investment for December showed a year-on-year decrease of -3.8%, and the GDP growth rate for Q4 was reported at 4.5%, slightly below expectations.
