On July 9, Mixue Group fell 3.27% in regular trading, trading at HK$207.6/share, with turnover of approximately HK$26.10 million, extending its recent downtrend.

On the news front, multiple reports revealed that Mixue's Hong Kong store count has shrunk from a peak of 9 to just 5, with core commercial district presence fully contracting. The company responded that adjustments represent phased operational optimization, but the market remains concerned about structural mismatch between its budget high-volume model and high-rent markets. Hong Kong core-area monthly rents reportedly reach HK$288,000, making it difficult for low-margin tea drinks to cover fixed costs.

Meanwhile, financial data shows Mixue's overseas stores recorded their first annual net decline since the brand began international expansion in 2018, with 428 net closures bringing the year-end overseas total to 4,467. Japan retains only 4 stores, far below prior targets, while Indonesia and Vietnam core markets also contracted. Combined with stock price nearly halving year-to-date and over HK$140 billion in market capitalization erased over one year, market confidence remains under sustained pressure.

(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.)