11月12日周三，港股新消费概念股走强，其中蜜雪集团（02097.HK）盘中大涨5.04%，引发市场关注。截至发稿，该股报价429.60港元。
消息面上，多家券商发布研报看好新消费板块，尤其是茶饮行业。中国银河证券指出，新茶饮龙头FY25 PE在Q3回调后已回归合理区间，预计蜜雪等品牌在Q3-Q4仍可实现高双位数的利润增长。展望2026年，该机构认为蜜雪等头部品牌将受益于更强的品牌势能，有望在外卖平台补贴策略退出后获得更多市场份额。
中信证券也表示，虽然外卖补贴可能结束，但长期来看，具备门店运营、产品研发及供应链管理等综合能力的头部品牌有望进一步扩大份额领先，享受行业的长周期增长红利。市场普遍认为，蜜雪集团作为行业龙头之一，有望从这一趋势中受益。此外，茶饮企业的海外扩张也引起了投资者的关注，预计将成为未来增长的重要驱动力。在多重利好因素推动下，蜜雪集团股价表现强劲，反映了投资者对公司未来发展前景的信心。
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