HK Stock Market Move | JS Global Life (01691) surged more than 7%. Small household appliances are expected to benefit from WeChat gifting. Institutions are bullish on the future of SN Asia-Pacific business.

JS GLOBAL LIFE (01691) rose more than 7%, up 7.1% as of the time of writing, trading at HKD 1.66, with a turnover of HKD 77.2542 million. Guotai Junan pointed out that small household appliances, as a domestic consumption sector that has not fully benefited from the old-for-new policy, have a low institutional allocation. However, the overall industry competition is slowing down. Currently, multiple brands have opened WeChat mini stores, with small household appliances in the gift-giving category benefiting the most. Pacific Securities also believes that the WeChat "gift-giving" function, closely integrated with WeChat's social attributes, naturally attracts a large user base and enjoys natural traffic during the festival season at the end of the year. It is optimistic about small household appliance brands such as Joyoung that are the first to set up self-operated WeChat mini stores. HuaXing Securities previously stated that with the gradual realization of the previous cost inputs and the contribution of new products such as the Shark floor scrubbing machine, as well as Joyoung providing more new products for SN in the second half of the year, it is expected that Joyoung's overall revenue will increase by 18.0% to USD 1.4 billion in 2024 (excluding procurement business). The bank believes that in the future, SN is expected to continue to replicate the successful experiences and business models of Europe and the United States in the Asia-Pacific market and is confident in achieving retail sales of USD 400-700 million in the Asia-Pacific business in the next 2-4 years.