HK Stock Market Move | Food stocks collectively decline, Goldman Sachs points out that the inflation of logistics costs has begun to appear, squeezing the net profits of consumer goods companies.

Food stocks collectively fell, as of the deadline, YIHAI INTL (01579) fell by 4.23% to HK$14.71; TINGYI (00322) fell by 3.73% to HK$11.63; COFCO JOYCOME (01610) fell by 3.2% to HK$1.21; U-PRESID CHINA (00220) fell by 0.39% to HK$7.65. On the news front, the National Development and Reform Commission announced that starting at 24:00 on the 21st, the domestic prices of gasoline and diesel will each be increased by RMB 75 and RMB 70 per ton, respectively. Goldman Sachs released a research report stating that since March to April, inflation in logistics costs within the range of China's essential consumer goods covered by the bank has begun to show. At the same time, the market has fully realized the locked cost advantage of packaging materials (especially PET), which will gradually turn into a disadvantage when the new procurement season starts in the second half of 2026. The bank pointed out that logistics costs as a percentage of sales costs vary for pure beverage companies and other essential consumer goods companies. As of May 10th, diesel prices have risen by 11% compared to the 2025 average level, theoretically posing a net profit downside risk in the low to high single digits for the companies covered by the bank. The impact is greatest on beer, dairy, and beverage companies (such as Master Kong and U-PRESID CHINA).