On July 8, Mingming Henmang (01768.HK) rose 3.05% in regular trading, trading at HK$385.0, with turnover of HK$14.89 million. The rally was driven by a recent Macquarie research note that raised the company's target price by 3.5% to HK$592, maintaining an Outperform rating.

According to the report, channel data indicates the company opened approximately 5,000 new stores in H1, with full-year new store openings now projected at 6,500 to 7,000, significantly exceeding the company's prior guidance of 5,000. Macquarie estimates H1 same-store sales growth remained stable, with revenue growing 55% year-over-year. The broker highlighted that as the company expands into fresh food and frozen product categories while optimizing its supply chain, both same-store sales and store-level profitability are expected to improve.

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