HK Stock Market Move | EAST BUY (01797) fell by over 6% again, Company quickly responds to new features in WeChat mini shops, Citigroup says post-holiday sentiment may return to normal.

EAST BUY (01797) fell by over 6% again, dropping 5.6% to HK$15.84 as of press time with a turnover of HK$267 million. On the news front, WeChat announced earlier that it has started a greyscale test of the "gift giving" feature. EAST BUY quickly responded by posting articles to attract traffic and showcasing its response to the new platform feature. Minsheng Securities pointed out that it is important to pay attention to the opportunities of relevant participants in the WeChat e-commerce chain, with a focus on sellers' product realization, such as EAST BUY. Citigroup published a research report stating that EAST BUY's stock price has risen by about 30% since December 19, mainly due to its early adoption of WeChat's new "gift giving" feature in the WeChat store mini-program ecosystem. Citigroup believes that EAST BUY can fully capitalize on the increased demand for gift giving during the spring festival season. However, with an expanding merchant base and intensifying competition, post-holiday sentiment may return to normal.