On July 30, BUSYMING rose 3.2% in regular trading, trading at 403.0 HKD/share, with turnover of 16.70 million HKD, extending its three-consecutive-day rebound trend.

On the news front, the company previously announced that its total signed stores exceeded 30,000, making it the first snack and beverage chain enterprise in China to reach the 30,000-store milestone. On the institutional front, Guotai Haitong Securities initiated coverage with an Overweight rating and a target price of 517 HKD, while Macquarie maintained its Outperform rating with a target price raised to 592 HKD, implying significant upside from current levels.

The stock had previously pulled back approximately 14% from its 389.0 HKD level. Multiple brokers' high target prices have catalyzed a technical recovery. Macquarie noted the company opened approximately 5,000 new stores in the first half of the year, projecting full-year new store openings of 6,500 to 7,000, above company guidance, with estimated revenue growth of 55% year-over-year.

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