According to the Wisdom Finance app, dining stocks lead the gains. As of the time of publication, Yum China (09987) rose by 7.15%, to 386.4 Hong Kong dollars; Naixue Tea (02150) rose by 3.36%, to 1.54 Hong Kong dollars; Dpc Dash (01405) rose by 2.51%, to 65.25 Hong Kong dollars; Jiumaojiu (09922) rose by 2.31%, to 3.55 Hong Kong dollars.

On the news front, Sheng Qiuping, Deputy Minister of the Ministry of Commerce, recently stated that the Ministry of Commerce will work with relevant departments to introduce a batch of new policies in the consumer sector. Five cities will also introduce supporting policies. For example, Shanghai and Guangzhou will launch support and incentive policies for first-store openings, first performances, and exhibitions; Beijing, Tianjin, Shanghai, and Chongqing will issue dining, cultural tourism, sports, and other service consumption vouchers.

Dahua Jixian previously pointed out that with anticipation of direct policy support and the emergence of potential wealth effects, Chinese consumer confidence may gradually recover, enhancing the profit visibility of Chinese consumer goods companies this year, leading to potential revaluation of valuations. Debon Securities pointed out that the industry is currently at the bottom of the cycle, with a weak recovery expected in the dining industry in 2024, lower income growth/pressure on profits; stimulus from consumption vouchers restores confidence, the industry's leading companies show more resilience amid intensified competition, bullish on turnover improvement/same-store marginal enhancement, and cash-rich dining leaders.