HK Stock Market Move | GUMING (01364) fell more than 12% during trading, the company completed the issuance of convertible bonds worth nearly 2 billion. Bank of America predicts that the opening of stores in the first half of the year will be well below the annual guidance.

GUMING (01364) fell more than 12% intraday, down 6.65% as of press time, reporting 20.2 Hong Kong dollars with a trading volume of 5.33 billion Hong Kong dollars. On the news front, GUMING recently announced that the subscription for the company's 1.96 billion Hong Kong dollars zero-coupon guaranteed convertible bonds has been completed. About 20% will be used for raw materials and equipment procurement; about 30% will be used to repay existing bank loans; about 40% will be used for share buybacks; about 5% will be used for research and development and overseas expansion. Bank of America Securities released a research report stating that channel surveys show GUMING added approximately 800 new stores in the first half of 2026, far below the annual guidance of more than 3,000. The bank expects a net addition of about 2,000 new stores for the year. Due to the lower-than-expected number of store openings, the earnings per share forecast for GUMING for 2026/2027 has been reduced by 7%/8%. The target price has also been lowered from 35 Hong Kong dollars to 30 Hong Kong dollars.