HK Stock Market Move | HELENS (09869) plunges more than 22%, cumulative decline this year close to 35%, will be removed from the Stock Connect list starting today.

HELENS (09869) plunged more than 22% in the morning session, with a cumulative decline of nearly 35% so far this year. As of the time of writing, it fell 22.43%, closing at HKD 1.66, with a turnover of HKD 34.2171 million. On the news front, on February 21, Hang Seng Index Limited announced the quarterly review results, with HELENS being removed from the Hang Seng Composite Index. On March 10, the Shenzhen Stock Exchange announced adjustments to the list of securities under the Stock Connect scheme, with HELENS being removed from the list. Zheshang previously pointed out that HELENS is a leader in the boutique liquor track. If consumer demand recovers, the performance of direct-operated stores is expected to improve, and the opening of Hibeer partner stores is expected to accelerate. The bank also noted that the net profit in the first half of 2024 is still positive, at approximately 70 million RMB. If consumer demand recovers, the average daily sales of direct-operated stores (including franchise cooperation) are expected to increase from 7,500 RMB to 8,200 RMB in the first half of 2023. Hibeer partner stores are also expected to resume rapid expansion.