Chabaida (02555) surged more than 40% in the afternoon, as of the time of publication, up 22.62%, at HK$10.3, with a turnover of 0.136 billion Hong Kong dollars.
According to the WiseFinance APP, Chabaida (02555) surged more than 40% in the afternoon, up 22.62% as of the time of publication, at HK$10.3, with a turnover of 0.136 billion Hong Kong dollars.
On the news front, after opening its first store in the Gangnam area of Seoul, South Korea earlier this year, Chabaida opened a new store at the Seoul Station in September, with plans to further expand. Wang Huan, the head of the South Korean market, stated that local consumers in South Korea account for over 80% of Chabaida's market share, with a high user repurchase rate of 45%. They have received a large number of franchise applications, with over 300 franchisees currently waiting in line for store opening opportunities. The company will gradually open up franchise business under the premise of meeting relevant rules.
Guotai Junan previously released research reports stating that after Chabaida's listing on the Hong Kong Stock Exchange in April, it was included in the Hang Seng Composite Index, Hang Seng Composite LargeCap & MidCap Index, Hang Seng China-Affiliated Corporations Index, Hang Seng Consumption Index, and Hang Seng Stock Connect Hong Kong Index in August. Public information shows that Chabaida has been included in the list of Hong Kong Stock Connect under the Shenzhen-Hong Kong Stock Connect and Shanghai-Hong Kong Stock Connect, effective since September 10th. It is widely believed that after being included in the Stock Connect, Chabaida is expected to attract more mainland Chinese investors, possibly increasing liquidity and valuation levels. It is worth noting that since September 10th, Chabaida's cumulative increase has exceeded 60%.