HK Stock Market Move | XIAO NOODLES (02408) rises nearly 3% as shareholders voluntarily extend lock-up period; institutions are bullish on the company's strong store expansion momentum.

XIAO NOODLES (02408) rose nearly 3%, up 2.03% as of press time to HK$3.775, with turnover of HK$219,000. On the news front, on November 11, XIAO NOODLES announced that the company has been informed by Mr. Song, Mr. Su and Huai'an Chuangtao that they have voluntarily undertaken that, from the expiry date of the original lock-up period until December 4, 2027, Mr. Song and Mr. Su will not dispose of their respective interests in Huai'an Chuangtao in any manner; and Huai'an Chuangtao will not dispose of its shares in the company in any manner. As of the date of this announcement, Huai'an Chuangtao holds a total of 300.8 million shares, representing approximately 42.33% of the company's total issued shares (including treasury shares). Hua Chuang Securities noted that from 2022 to 2025, XIAO NOODLES' stores increased from 170 to 503, with a three-year CAGR of 43.6%, and further increased to 550 in 2026H1. The company plans to open a cumulative 520-610 new stores over the three years from 2026 to 2028, and the brokerage expects the store count to potentially exceed 1,000 by the end of 2028. In higher-tier markets, density can continue to increase through diverse locations such as residential, office, school and transportation hub sites, while lower-tier markets offer lower rents and higher store profit margins, with franchisees' local resources further improving penetration efficiency; the Hong Kong and overseas markets open up additional incremental space.