HK Stock Market Move | (02097)rose by over 7%, hitting a record high. The company's supply chain capabilities and economies of scale are building a moat, with vast overseas opportunities.

(02097) rose more than 7%, reaching a high of 319 Hong Kong dollars, hitting a new high in the market. As of the time of writing, it rose 7.14% to 318.2 Hong Kong dollars, with a trading volume of 1.18 billion Hong Kong dollars, and a total market value exceeding 120 billion Hong Kong dollars. It is reported that the company is a leading instant beverage enterprise, focusing on providing high-quality and affordable instant fruit drinks, tea drinks, ice cream, and coffee to consumers at a unit price of about 6 yuan (approximately 1 US dollar). Data shows that as of December 31, 2024, the company has 46,479 stores. In 2024, the company achieved a total sales volume of approximately 9 billion cups of drinks, generating approximately 58.3 billion yuan in terminal retail sales, with year-on-year growth rates of 21.9% and 21.7%, respectively. Based on the number of stores as of September 30, 2024, the company has become the world's largest instant beverage enterprise. Pacific Securities pointed out that the company achieves extreme cost control through vertical integration of the supply chain, penetrates the market with a low-price strategy, and feeds back the supply chain efficiency with a super scale to form a closed loop. Its moat lies in the continuous iterative supply chain capabilities and economies of scale. In addition, overseas expansion and the Lucky Coffee brand build the second growth curve. The Southeast Asian instant beverage market is currently in a period of rapid development, with a forecasted CAGR of 19.8% from 2023 to 2028, leading other regions globally. Meishixue is the largest tea beverage brand in terms of store scale in Southeast Asia, with 4,792 overseas stores as of September 2024. The company is also expanding into developed countries such as Japan, South Korea, and Australia, with vast overseas opportunities.