HK Stock Market Move | MAO GEPING (01318) rises over 5%, as the Double 11 promotion continues to catalyze, and the company's September GMV growth rate accelerates.

MAO GEPING (01318) surged intraday, rising 5.10% as of press time to HK$46.98, with a turnover of HK$109 million. On the news front, this year's Double 11 shopping festival has kicked off. According to a CICC research report, with the overall price system remaining stable, sales performance was generally better than the market's previously pessimistic expectations, and MAO GEPING achieved considerable growth despite relatively small price discounts. Separately, according to a recent commentary from CMBI, MAO GEPING's September GMV grew 42.9% year-on-year, up from 17.7% in August, with Douyin's 64.2% growth serving as the main driver. Color cosmetics grew 48.4%, while skincare also turned to 24.9% growth, with growth momentum expanding from the core color cosmetics business to skincare.