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<Research>Guosen Securities Reviews Recent Southbound Stock Connect Holdings in Tea Beverage Stocks: MIXUE GROUP/ GUMING/ CHABAIDAO See Increases
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36
Positive
62
Negative
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Some tea and beverage stocks gained traction today. MIXUE GROUP (02097.HK) surged 4.5% to HKD537. GUMING (01364.HK) rocketed 7.2% to HKD27.4, CHABAIDAO (02555.HK) swelled 4.2%. NAYUKI NAYUKI (02150.HK) even spiked 30.2% to HKD1.64.

Guosen Securities released a report this Monday (30th) on China's social services sector, in which it reviewed Southbound Stock Connect's holdings in the industry during the period from June 16 to 27, 2025.

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The broker found that TIANLI INT HLDG (01773.HK), CHABAIDAO, MIXUE GROUP, and GUMING saw increased holdings. TIANLI INT HLDG' shareholding ratio rose 1.41 ppts to 43.16%, CHABAIDAO's grew 0.86 ppts to 25.34%, MIXUE GROUP's climbed 1.83 ppts to 6.89%, and GUMING's leaped 2 ppts to 6.24%.

In contrast, HAIDILAO (06862.HK)'s shareholding ratio dropped 0.39 ppts to 18.05%, JIUMAOJIU (09922.HK)'s fell 0.12 ppts to 42.9%, HELENS (09869.HK)'s dipped 0.7 ppts to 27.28%, and NAYUKI NAYUKI slipped 0.56 ppts to 25.72%.

Guosen Securities maintained an Outperform rating on the sector. With China continuing to roll out favorable policies to boost domestic demand, the social services sector is expected to see a sustained recovery in valuations during the period.

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In the current economic environment and market style, the broker recommended allocating to MIXUE GROUP, TIANLI INT HLDG, CHINA EAST EDU (00667.HK), TRIP.COM-S (09961.HK), MEITUAN-W (03690.HK), and TONGCHENGTRAVEL (00780.HK), among others.
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