Hong Kong-listed catering stocks are experiencing a collective rebound.

As of the latest update, shares of NAYUKI (02150) have risen 6.94% to HK$0.77. XIABUXIABU (00520) shares are up 6.67% to HK$0.32. HELENS (09869) shares have increased by 4.14% to HK$1.51. HAIDILAO (06862) shares are up 2.29% to HK$12.5.

The positive movement follows data showing China's total retail sales of consumer goods reached 3.7247 trillion yuan in April 2026, representing a year-on-year increase of 0.2%.

Analysts note that from October 2025 to April 2026, the growth rate of catering revenue within retail sales has outpaced the overall retail sales growth. This indicates that service consumption, particularly in the catering sector, is demonstrating greater resilience compared to goods consumption.

Further analysis suggests that China's catering industry is transitioning from a phase driven by scale expansion to one focused on efficiency improvements. The sector as a whole is entering a new cycle characterized by narrowing profit margins and an accelerating divergence in competitive dynamics.

It is projected that by 2026, the industry will enter a stage of "volume contraction and profit growth, where the strong get stronger." The chain store penetration rate is expected to continue rising. Market leaders possessing robust supply chain barriers, efficient store formats, and strong digital capabilities are well-positioned to expand their market share consistently.