HK Stock Market Move | SUNART RETAIL (06808) rose more than 15% in early trading, and RT-Mart M member stores are accelerating their opening. Offline supermarkets are facing structural opportunities.

SUNART RETAIL (06808) rose over 15% in early trading, and as of press time, it was up 10.49% at 1.58 Hong Kong dollars, with a turnover of 197.719 million Hong Kong dollars. On the news front, on August 31, a membership store of M Yintai opened in Jiaxing, becoming the fifth store of M Yintai nationwide and the first in Zhejiang. Shen Hui, CEO of Yintai, announced that the Wuxi M membership store will open on September 10, indicating that the opening of M membership stores is speeding up again. In addition, Macquarie upgraded its rating on SUNART RETAIL to "buy" and raised its target price by 22% to 1.83 Hong Kong dollars. It is worth noting that MNSO announced an investment in Yonghui Superstores. MNSO founder Ye Guofu said on a conference call that China's offline supermarkets are facing a once-in-20-years structural opportunity, with offline supermarkets facing structural supply-side clearing. After visiting Pangdonglai and its adjustments to Yonghui Superstores, he believes that the reform led by Pangdonglai and other domestic supermarkets will reshape the layout of offline supermarkets. In addition, China's Costco and Sam's Club have already demonstrated better models, and the company sees new future and opportunities.