HK Stock Market Move | JS Global Life (01691) surged more than 13%, small household appliances are expected to benefit from WeChat gifting, and institutions are optimistic about the future of SN Asia-Pacific business.

JS GLOBAL LIFE (01691) rose by more than 13%, with two large transactions in the morning trading session totaling HK$157 million. As of the time of writing, the stock had risen by 9.15% to HK$1.55 with a trading volume of HK$299 million. On the news front, Guotai Junan recently pointed out that small household appliances, as a domestic consumption sector that has not fully benefited from the trade-in policy, have a low institutional allocation, but the overall industry competition is slowing down. Currently, several brands have opened WeChat Mini Programs, with small household appliances with gifting attributes benefiting the most. Pacific Securities also believes that the "gift giving" function on WeChat, combined with the social attributes of WeChat, attracts a naturally large user base, and launching this function during the concentrated holiday season at the end of the year enjoys natural traffic support. They are optimistic about small household appliance brands such as Joyoung that are the first to establish self-operated WeChat Mini Programs. Huaxing Securities previously stated that with the gradual realization of earlier expenses and new products like the Shark floor scrubbing machine contributing more increments, as well as more new products for SN OEMs in the second half of the year, they expect the overall revenue of Joyoung's subsidiaries to increase by 18.0% to US$1.4 billion in 2024 (excluding procurement business). The bank believes that SN is likely to continue to replicate the successful experiences and business models of Europe and the United States in the Asia-Pacific market, and has confidence in achieving retail sales of 400-700 million US dollars in the Asia-Pacific business in the next 2-4 years.