On June 12, Mingming Henmang (01768.HK) rose 3.95% in regular trading, trading at 396.2 HKD/share, with turnover of 67.80 million HKD. The stock has extended its rally for five consecutive trading days since its formal inclusion in the Hang Seng Composite Index and Stock Connect on June 8, with cumulative gains exceeding 15%.

On the news front, the inclusion in Hong Kong Stock Connect has opened the southbound capital channel, continuously attracting incremental funds. Multiple institutions have recently issued bullish coverage: Citi initiated with a Buy rating and target price of 439.6 HKD; CICC maintained a target price of 530 HKD; Huaxing Securities initiated coverage with a Buy rating and target of 425 HKD; Huatai Securities maintained its Buy rating noting the company's full-year target of 5,000 new store openings is expected to be achieved; and Western Securities initiated with a Buy rating citing dual-brand synergy leading the snack retail sector. Citi projected adjusted net profit growth of 47%, 19%, and 15% year-over-year for fiscal years 2026-2028 respectively, driven by revenue growth and gross margin expansion.

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