0902 GMT - Mixue Group should benefit from food delivery platforms likely extension of subsidies, Daiwa analysts say in a research note. Delivery subsidies from both JD.com and Ele.me could both last into 3Q-4Q, they say. They reckon that 30%-50% of these subsidies are targeted at the beverage segment due to its low average selling prices and high purchase frequency. The fresh-drink sector remains one of the few discretionary categories capable of delivering over 20% growth over the next two to three years, they say. Daiwa downplays the impact of Mixue's overseas performance on its earnings as the international market's net profit contribution is single-digit, they say. Daiwa maintains an outperform rating on Mixue with a target price of HK$608.00. Shares last ended at HK$512.00. (sherry.qin@wsj.com)

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June 18, 2025 05:07 ET (09:07 GMT)

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