ANJOY FOOD (02648) rose nearly 4%, reaching a new high of HK$83.8. At the time of writing, the stock was up 3.84% at HK$83.8, with a turnover of HK$56.9619 million. According to a research report from China Merchants Securities, channel tracking indicates that sales in Hebei province grew over 30% year-on-year in January-February, while growth in North China was below 20%. The strong growth is attributed to robust sell-through and distributors stocking up early in March due to the absence of promotional activities. Core products such as shrimp paste in fresh-lock packaging and foodservice channels saw significant growth. Additionally, the new 400g Family Feast product performed better than expected. The company continues to gain market share leveraging its channel advantages. Guolian Minsheng Securities noted that while the broader catering market remains weak, the frozen food sector benefits from increasing penetration driven by catering standardization and cost efficiency improvements, with key companies still experiencing sales growth.