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Soochow Securities: The inflection point of social zero dining profits in 2024Q3 leads the way, with improvements in demand for condiments and dairy products on the horizon.
In July-September 2024, the growth rate of dining revenue in social retail continued to slow down compared to Q2 2024. In September, the year-on-year growth rates of dining in social retail and dining above designated size were +3.1% and +0.7%, respectively.
Guolian Securities: The differentiation of mass market demand continues in the third quarter of 24, looking forward to repair elasticity.
The redunlity of cost reduction continues in the 24Q3 mass brands, with soybean and fresh milk prices further declining month-on-month, while white granulated sugar and palm oil prices remain at low levels, easing cost pressures on the enterprise side. In terms of performance, it is expected that the performance of mass brands in Q3 will continue to differentiate.
yihai intl (01579.HK) intends to forfeit unclaimed dividends.
On October 14th, Gelunhui announced that unclaimed dividends (totaling 101.97 Hong Kong dollars) will be confiscated on October 31, 2024, and returned to the company.
Spotlight on Changes | Dining stocks rebounded in early trading, with impressive performance in the dining market during the National Day holiday, consumer goods companies expected to improve profitability visibility this year.
Dining stocks rebounded in the morning session. As of the time of publication, jiumaojiu rose by 7.55% to HKD 4.13; Haidilao rose by 5.65% to HKD 16.82; xiabuxiabu rose by 1.71% to HKD 1.19; yum china rose by 2.19% to HKD 364.6.
Express News | Haidilao: During the six days before the National Day holiday, the national stores received over tens of millions of customers.
Citi: Mainland policy shift, first choice for consumer related stocks such as Mengniu (02319.HK), Runpu (00291.HK), and Bud APAC (01876.HK) in the financial services sector.
Citibank released a research report stating that since the shift in mainland China's policies, after the People's Bank of China relaxed real estate and released liquidity into the stock market, several ministries and local governments have announced plans to promote consumer spending in the past few days. The bank expects that the essential consumer industry will benefit first, focusing mainly on benefiting the people's livelihood and boosting consumer confidence. The bank mentioned that if the Chinese government further implements effective fiscal stimulus measures, and the positive wealth effect becomes more apparent, it is expected that non-essential consumer industries will benefit in a later stage. Citibank's preference for essential consumer industries are dairy products, beer, condiments, and lastly beauty and personal care. Its top choice is Mengniu (02319.
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