ANJOY FOOD (02648) surged nearly 5% in late trading, closing up 4.81% at HK$70.75 with a turnover of HK$42.67 million. The company reported revenue of RMB 11.37 billion for the first three quarters, a year-on-year increase of 2.66%, and net profit attributable to shareholders of RMB 949 million.

BOC International highlighted that the company's core business remained stable in Q3, with new sales channels performing strongly. ANJOY FOOD has driven growth through product innovation, adapting to channel shifts and consumer demand with internal adjustments. Performance is expected to improve quarter by quarter during the peak season in the second half of the year.

Huachuang Securities noted that recent channel data showed healthy growth in October-November despite a high base, continuing the monthly improvement trend since Q3. Key factors include lower channel inventory due to the absence of distributor promotions in Q3, increased sales from new products as smaller brands exited the market (leading to stockouts for some items), and seasonal demand for frozen foods as temperatures drop.

With colder weather this year and strong sales of new products, current performance remains positive, and further acceleration is anticipated during the upcoming Spring Festival peak season.