HK Stock Market Move | The catering stocks continue to decline, HELENS (09869) falls more than 7%. The third quarter catering revenue growth rate has slowed down compared to the previous quarter.

The catering sector continues to decline. As of the time of writing, HELENS (09869) fell by 7.17% to 2.72 Hong Kong dollars; JIUMAOJIU (09922) fell by 5.57% to 3.73 Hong Kong dollars; XIABUXIABU (00520) fell by 3.64% to 1.06 Hong Kong dollars; SUPER HI (09658) fell by 1.34% to 13.26 Hong Kong dollars. Haitong pointed out that in the third quarter, the national catering revenue reached 1.3 trillion yuan, a year-on-year increase of 3.1%, with growth slowing compared to the first and second quarters but relatively stable; catering revenue for quota-exceeding enterprises reached 373.68 billion yuan, with growth lower than the market average, with a slight decline in July, and an increase in growth compared to in August and September. Beijing and Shanghai continue to show negative growth trends. EB SECURITIES pointed out that the overall income of the catering industry is slowly recovering, with better performance in lower-tier cities than in top-tier cities. The turning point for the year-on-year growth rate of catering per capita occurred in October 23, which is similar to the trend of the housing price index; the decline in per capita spending in lower-tier cities is smaller, and the income growth rate of catering establishments is faster. Cost-effectiveness, efficiency, franchising, and going overseas have become the main trends in the catering industry.