On June 29, Mixue Group (02097.HK) rose 3.05% in regular trading, trading at HKD 250.0/share, with turnover of HKD 21.02 million. The stock is staging a technical rebound after hitting a 52-week low of HKD 240.4 on June 26.

On the news front, multiple brokerages have recently issued bullish research reports on the company. Huaxing Securities maintained a Buy rating with a target price of HKD 475.40, implying 84% upside, noting that current valuations have partially priced in same-store pressure for the year with a true validation window in Q4. BOCI initiated coverage with an Outperform rating, citing strong competitive advantages in lower-tier markets and leading overseas expansion. Additionally, the company proposed a general mandate to buy back up to 10% of issued H shares — approximately 15.09 million shares — at its annual general meeting held on June 26, which has provided further support to market sentiment.

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