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.

Hong Kong Stock Market Performance: The Hong Kong stock market opened lower, with the HSI down 63 points at 25,718, and later reported a decline of 174 points or 0.7%, with a turnover of HKD63.586 billion.

Coffee Price War in Mainland China: GUMING launched a coffee promotion with prices as low as RMB2.9, causing its stock to drop 9.03% to HKD21.76, amid a surge in trading volume.

Decline in Tea Beverage Stocks: Other tea beverage stocks like MIXUE GROUP and AUNTEA JENNY also experienced declines, with MIXUE down 5.44% and AUNTEA down 5.58%.

NAYUKI Stock Stability: In contrast, NAYUKI's stock remained stable, slightly increasing by 0.847% to HKD1.18, with a lower trading volume compared to other stocks.

BABA-W Group Buying Launch: Alibaba's Taobao Instant Commerce is set to pilot a group buying program starting tomorrow in major cities like Shanghai, Shenzhen, and Jiaxing, with plans for a nationwide rollout in first- and second-tier cities.

Initial Product Categories: The pilot will feature high-frequency consumption items, including beverages and fast food, with participation from both national chains like NAYUKI and local brands such as Xuji Seafood.