On June 4, Mingming Henmang rose 3.66% in regular trading, trading at 347.0 HKD/share, with trading volume of 315,800 HKD, extending its recent rebound momentum.

On the news front, on June 2, Mingming Henmang and Wanchen Group simultaneously issued statements calling on the industry to abandon disorderly involution, uphold compliant operations, and pursue rational development, signaling a positive shift in the competitive landscape. On the same day, CICC issued a research report maintaining its Outperform rating on Mingming Henmang with a target price of 530 HKD, implying approximately 47% upside from current levels. CICC believes the snack retail industry still has low penetration in traditional offline channels. As of late May, the company operated over 24,000 stores, maintaining rapid expansion while same-store performance is also improving. The institution noted the company is transitioning from a growth dividend phase to an operational efficiency phase, with medium-to-long-term profit margins having upward potential.

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