HK Stock Market Move | Anjoy Foods Group (02648) rose nearly 4% to a new high. The company continues to increase its market share with its channel advantages.

Anjoy Foods Group (02648) rose nearly 4%, reaching a record high of 83.8 Hong Kong dollars. As of the time of writing, it has risen by 3.84% to 83.8 Hong Kong dollars, with a trading volume of 56.96 million Hong Kong dollars. On the news front, according to a report by CMSC, channel tracking shows that the growth in Hebei region in January and February was over 30% year-on-year, while in the North China region, the growth was less than 20%. The high growth is due to good sales performance and the company's early stocking without promotional channels in March. The single product Shrimp Slice Lock Fresh Packaging performed well in both the retail and catering channels. In addition, the new product 400g Family Pack exceeded expectations. The company continues to increase its market share with its channel advantages. Guolian Minsheng Securities believes that the catering market is weak, but there is still logic for penetration rate improvement in the frozen sector (standardization of catering + cost reduction and efficiency improvement), and key company sales still have growth potential.