HK Stock Market Move | HELENS(09869) now up over 7% Direct store efficiency is expected to rebound Hi beer partners may accelerate the opening of franchise stores

HELENS (09869) is currently up over 7%, as of the time of writing, it is up 6% at HKD 2.12, with a trading volume of HKD 17.5925 million. Oshing Securities pointed out that in 2025, as policies to boost consumption are gradually implemented, economic development is expected to shift from external demand to domestic demand, and the food and beverage sector is expected to gradually rebound. Beer sales were weak in 2024, but with the gradual recovery of the catering industry in 2025, the beer demand structure is expected to improve. Zheshang noted that HELENS is a leader in the small pub market. If consumer demand recovers, the efficiency of directly operated stores is expected to improve, and the opening speed of Hi Beer partner stores is expected to accelerate. The bank pointed out that the net profit in the first half of 2024 is still positive, reaching approximately 70 million yuan. If consumer demand recovers, the average daily sales of direct stores (including franchise cooperation) are expected to increase from 0.75 yuan in the first half of 23 to 0.82 yuan; Hi Beer partner stores are also expected to quickly expand again.