Mixue Group (02097.HK) stock surged 5.12% in intraday trading on Monday, continuing its impressive performance in the Hong Kong stock market. The beverage giant's shares have shown remarkable strength, attracting significant investor attention in recent months.

The latest uptick adds to Mixue Group's stellar performance this year, with its stock price having skyrocketed by 140% year-to-date. This substantial gain underscores the growing investor confidence in the company's business model and growth prospects in the competitive Chinese beverage market.

Mixue Group, founded in 1997 as a small ice shop in Zhengzhou, has grown into a franchising powerhouse with a global presence. As of September 2024, the company boasted over 45,000 stores worldwide, surpassing even Starbucks in terms of store count. Unlike traditional beverage brands, Mixue operates primarily as a raw-material supplier, selling food materials, packaging, and equipment to its vast network of franchisees. This unique business model, coupled with its extensive reach, appears to be resonating well with investors, potentially driving the continued interest in its stock.