HK Stock Market Move | CHABAIDAO (02555) rose by over 9% again, the company opened a new store in Seoul and plans to gradually open franchise business in the future.

CHABAIDAO (02555) rose more than 9% again, accumulating nearly 70% in the past six trading days. As of the time of the announcement, it rose by 8.68%, to 6.89 Hong Kong dollars, with a turnover of 8.5231 million Hong Kong dollars. On the news front, CHABAIDAO has opened a new store in Seoul's Daewoo Station after opening its first store in Seoul's Gangnam District earlier this year, with plans to further expand in the future. Wang Huan, head of the Korean market, stated that local consumers in the Korean market account for over 80%, with a high repurchase rate of 45%, receiving a large number of franchise applications. Currently, there are over 300 franchisees waiting in line for the opportunity to open a store. The group will gradually open up franchise business in accordance with relevant rules. In addition, Guotai Junan released a research report stating that CHABAIDAO had 8,385 stores in the first half of the year, a year-on-year increase of 20.6%. In the first half of the year, 826 new stores were opened. In terms of overseas business, CHABAIDAO has opened stores in Korea, Thailand, and Australia. Guotai Junan maintained a "buy" rating on CHABAIDAO.