ANJOY FOOD (02684) rose more than 3%. As of writing, the stock was up 2.9%, trading at HKD 74.4 with a turnover of HKD 19.2134 million. A Citigroup research report predicts that driven by new products and channel advantages, ANJOY FOOD's core business sales performance will improve in the fourth quarter of 2025. The report anticipates that the management's forthcoming 2026 sales target will not fall below the double-digit growth rate achieved in 2025. Citigroup raised its net profit forecast for ANJOY FOOD for 2025 to 2027 by 1% to 14%, lifting the target price from HKD 75.7 to HKD 90, which implies a forward price-to-earnings ratio of approximately 18 times for 2026, while maintaining a "Buy" rating. Goldman Sachs noted that looking ahead to 2026, management is more optimistic about the performance in January this year, citing a lower base effect, pre-Lunar New Year inventory replenishment, and more favorable weather conditions. The firm expects main business revenue to achieve double-digit growth in 2026. Regarding profitability, management emphasized that there have been no significant recent changes in raw material costs. Supported by economies of scale, resilient pricing power, and stable raw material prices, the company is expected to maintain a robust net profit margin level.