On June 18, Mixue Group fell 3.07% in regular trading, trading at HKD 245.0/share with turnover of HKD 89.33 million, hitting a new 52-week low and extending its recent downtrend.

Multiple headwinds continue to weigh on the stock. China Galaxy Securities noted that delivery platform subsidies have been steadily retreating since April-May, with industry same-store sales expected to turn negative from May through September. The company's domestic store expansion is approaching its physical limit, while core raw material lemon procurement costs have surged over 60%. With average per-customer spending at just RMB 7.3, its low-price positioning severely constrains any room for price increases, squeezing margins from both sides. Additionally, a recent CEO change has introduced management uncertainty, with the new CEO openly acknowledging that store profitability will face pressure. The company also committed RMB 1.5 billion to a venture capital fund, signaling efforts to find a second growth curve amid slowing core business momentum.

Within the Restaurants sector, the overall sector trended lower. Among individual stocks, Meituan down 2.28%, Yum China down 1.31%, Haidilao down 2.05%, Xiaocaiyuan down 2.65%, Guming down 1.04%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)