0724 GMT - Chinese restaurant operator Green Tea Group will likely benefit from the escalating food-delivery battle, Citi analysts write in a research note. They cite a local media report that said Alibaba's Taobao significantly raised food-delivery subsidies for consumers on July 5. "We anticipate increased price competition among major food-delivery platforms to benefit medium-scaled Chinese restaurant chains." Green Tea, which offers Chinese fusion cuisine, is well differentiated from listed Chinese hotpot operators or Western quick-service restaurants, Citi says. It raises its target price on Green Tea to HK$11.10 from HK$9.40. Shares rise 11% to at HK$9.04. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

July 07, 2025 03:24 ET (07:24 GMT)

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