July 28 news,$BUSYMING (01768.HK)$Surged nearly 12% to HK$384, with a trading volume of HK$226 million.
On the news front, on July 21, Mingming Hen Mang Group announced that as of July 20, the number of its contracted stores has exceeded 30,000, making it the first snack and beverage retail chain in China to reach the 30,000-store milestone. The group has balanced scale expansion with operational quality: its full-year GMV for 2025 reached RMB 93.569 billion, with adjusted net profit of RMB 2.692 billion. Metrics such as inventory turnover and multi-unit franchise performance lead the industry. This milestone signifies that the snack retail sector is transitioning from rapid, extensive store expansion to a high-quality development phase focused on operational excellence.
In a recent research report, Guotai Junan Securities initiated coverage of Mingming Hen Mang with a “Buy” rating and a target price of HK$517. The firm views the company as China’s leading value-snack retailer, whose scale and efficiency form core competitive barriers, with profitability currently in an expansion phase. The report’s central thesis is that the company has achieved rapid nationwide growth through its dual-brand strategy—'Snacks Hen Mang' and 'Zhao Yiming Snacks'—combined with a franchise model, and its competitive advantages manifest across three dimensions.
Editor/melody