On July 15, Mingming Henmang (01768.HK) rose 3.13% in regular trading, trading at 415.6 HKD/share, with turnover of 43.29 million HKD. The stock has maintained an upward trajectory amid sustained institutional bullishness and store expansion significantly exceeding guidance.

On the news front, Macquarie recently raised its target price by 3.5% to 592 HKD, maintaining an Outperform rating, noting that channel data indicates the company opened approximately 5,000 new stores in H1, with full-year projections reaching 6,500-7,000 stores—well above the company's guidance of 5,000. The broker estimates H1 same-store sales growth remained stable, with revenue up 55% YoY and adjusted net profit up 64% YoY. Changjiang Securities also initiated coverage with a Buy rating, citing the company's significant scale and efficiency advantages. Huatai Securities maintained its Buy rating and 2026-2028 adjusted net profit forecasts of 3.80/4.48/5.20 billion RMB, citing improving operational efficiency through AI-powered visual recognition and self-checkout technology.

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