HK Stock Market Move | CHINA FOODS (00506) rose nearly 5% again. The stock price has almost doubled since the beginning of the year. The company plans to strategically enter the nutrition and health food market.

China Foods (00506) surged nearly 5%, doubling its stock price for the year, with an increase of 3.84% to HK$4.6 as of the time of writing, with a trading volume of HK$38.64 million. On the news front, the Shenzhen Stock Exchange previously announced that China Foods has been included in the list of Hong Kong Stock Connect targets, effective from September 8th. The company's mid-year performance showed a revenue of 12.278 billion yuan, an 8.3% year-on-year increase, and a net profit attributable to shareholders of 578 million yuan, a 2.2% year-on-year increase. The company believes that the efficiency of resource allocation has been basically improved, and in the second half of the year, it will continue to increase market investment to promote business expansion. CICC pointed out that the company's self-service vending machines, Yuezhi Club, and other channels have expanded beyond the scope of the single beverage business, with non-beverage business volume from vending machines in the first half of the year reaching nearly 200 million yuan. In the long run, while consolidating its core categories such as carbonated drinks and juices, the company plans to strategically enter the field of nutritional health food to promote strategic synergy between beverages and food and achieve operational efficiency optimization. The company stated that as the entity within COFCO Group most suitable for undertaking food business, relevant plans are actively advancing, with specific measures expected to be implemented next year.