HK Stock Market Move | TINGYI (00322) is now up more than 3%, and the founder's son, Wei Hongcheng, takes over as CEO. The company returns to family governance.

TINGYI (00322) is now up over 3%, as of the time of publication, up by 3.06% at HKD 12.47, with a turnover of HKD 1.32 billion. In terms of news, on December 18th, Master Kong announced that CEO Chen Yingrang has decided to retire and not renew his service contract with the company. The new CEO will be Wei Hongcheng, effective January 1, 2026. It is reported that the new CEO Wei Hongcheng is the younger brother of Chairman Wei Hongming and the son of founder Wei Yingzhou. His appointment marks the end of the 11-year era of professional managers at Master Kong, as the Wei family will now fully control the company. Goldman Sachs released a research report earlier this month stating that Master Kong is still facing challenges in meeting its sales targets for the 2025 fiscal year, mainly due to the weakness in the beverage business. However, profit targets are still expected to be achieved, mainly due to pricing base effects, favorable cost dynamics, efficiency improvement measures, and strict promotion management. Looking ahead to 2026, Master Kong management reiterated that improving profit margin will be the core focus, while also aiming to resume revenue growth and continue to drive efficiency improvement measures. The company typically locks in purchases of various raw materials for periods ranging from two weeks to several months.