智通财经APP获悉，港股今日低开高走，三大指数早盘均一度涨超1%，随即上涨动力不足，午后股指 涨幅悉数收窄。截止收盘，恒生指数涨0.37%或84.04点，报22775.92点，全日成交额1858.96亿港元；恒 生国企指数涨0.7%，报8300.25点；恒生科技指数涨0.56%，报5228.91点。 浙商国际指出，整体来看，港股市场基本面和资金面短期皆有隐忧，政策面仍在加码，而情绪面则偏观 望。但鉴于当下港股市场周月线级别趋势已进入右侧区间，对于后续走势不建议过度悲观。因此，该行 对于中短期市场走势继续保持谨慎乐观的态度。 蓝筹股表现 理想汽车-W(02015)领涨蓝筹。截至收盘，涨4.96%，报105.9港元，成交额28.27亿港元，贡献恒指11.36 点。理想L系列智能焕新版发布会将于今晚20:00举行，将推出L9、L8、L7、L6智能焕新版。在4月23日 开幕的上海车展上，理想L6智能焕新版已经公布售价并开启预订，共推出2款车型，售价区间24.98- 27.98万元。 其他蓝筹股方面，吉利汽车(00175)涨4.41%，报17.52港元，贡献恒指7.41点；药明生物(02269)涨 3.92%，报22. ...

沪上阿姨本次发行的联席保荐人、整体协调人、联席全球协调人、联席账簿管理人及联席牵头经办人为 中信证券（香港）有限公司、海通国际证券有限公司、东方证券（香港）有限公司，联席账簿管理人及 联席牵头经办人为工银国际证券有限公司、招商证券（香港）有限公司、民银证券有限公司、万基证券 有限公司、东吴证券国际经纪有限公司、老虎证券（香港）环球有限公司。 沪上阿姨拟将所得款项净额用于"提升数字化能力""研发以提高原材料及食材的质量，打造热销产品， 丰富产品种类，以及升级设备及机器""提升生产、加工、仓储、物流及分销能力，藉此加强供应链能 力""提升品牌势能并进一步扩张及壮大门店网络""投资各种营销活动""营运资金及其他一般企业用 途"。 沪上阿姨是一家现制饮品公司，根据灼识咨询，截至2022年及2023年12月31日，沪上阿姨经营着分别为 中国第五及第四大的现制茶饮店网络。 2022年至2024年，沪上阿姨收入分别为21.99亿元、33.48亿元和32.85亿元，年内溢利分别为1.49亿元、 3.88亿元和3.29亿元，经调整年内溢利（非国际财务报告准则计量）分别为1.54亿元、4.16亿元和4.18亿 元。 中国经济网北 ...

Core Viewpoint - The successful IPO of Hu Shang A Yi marks a significant moment in the competitive tea beverage market, showcasing strong investor interest and a strategic focus on expanding its market presence, particularly in lower-tier cities [1][2][3]. Group 1: IPO Details - Hu Shang A Yi listed on the Hong Kong Stock Exchange on May 8, 2023, with a share price of HKD 113.12, issuing 2.4113 million shares [1]. - The IPO saw a subscription multiple of nearly 3400 times, with total subscription amounts exceeding HKD 92 billion, making it one of the hottest new listings following regulatory changes [1][3]. - The stock closed with a gain of 62.48% in the dark market prior to its official listing, indicating strong market confidence [1]. Group 2: Business Strategy and Operations - The company aims to enhance its digital capabilities, product innovation, and global brand strategy, focusing on efficient operations to improve service quality [2]. - Hu Shang A Yi operates over 9,000 stores, with more than half located in third-tier cities and below, emphasizing its strategy to penetrate lower-tier markets [5][6]. - The revenue from franchise operations is projected to account for 80% of total revenue by 2024, highlighting the company's reliance on franchising for growth [5]. Group 3: Financial Performance - The company's revenue for 2022, 2023, and 2024 was reported at CNY 2.199 billion, CNY 3.348 billion, and CNY 3.285 billion, respectively, with net profits of CNY 149 million, CNY 388 million, and CNY 329 million [5][6]. - In 2024, the company experienced a slight revenue decline of 1.9%, attributed to reduced income from franchises and self-operated stores [6]. - The average GMV per franchise store decreased from CNY 1.6 million in 2023 to CNY 1.4 million in 2024, reflecting increased competition in the tea beverage sector [6].

港股收评：恒指收涨0.37% 军工股连涨两日 金十数据5月8日讯，港股今日走势反覆，尾盘涨幅显著收窄。恒指今早低开高走，恒指早盘低开102点 报22589点，随后掉头向上，一度升211点高见22903点。午后震荡走软，涨幅显著收窄。截至收盘，恒 指收涨0.37%；科指收涨0.56%，恒指大市成交额1858.9亿元。盘面上，新能源物料、国内零售股走强， 汽车、医药外包股回暖，军工股连涨两日；玩具消闲、公路运输、芯片股走低，黄金股回调，内地教育 股连跌两日。个股方面，沪上阿姨(02589.HK)、钧达股份(02865.HK)上市首日分别收涨40%、20%，理 想汽车(02015.HK)、吉利汽车(00175.HK)均涨4.5%；山东墨龙(00568.HK)跌28%，康师傅控股 (00322.HK)跌超4.5%。 ...

Group 1 - The Hang Seng Index closed up by 0.37% and the Hang Seng Tech Index increased by 0.56% [1] - The Hong Kong Tech ETF (159751) rose by 0.20% at the close, while the Hang Seng Hong Kong Stock Connect ETF (159318) remained flat at 0.00% [1] - On its debut, "沪上阿姨" surged by 40%, while JunDa Co., Ltd. (002865) increased by over 20% [1] Group 2 - Shandong Molong (002490) experienced a decline of over 27%, and Hongye Futures (001236) fell by over 15% [1]

Group 1 - The new-style tea beverage industry is experiencing a listing boom, with six brands, including Hu Shang A Yi, successfully entering the capital market [1][3] - Hu Shang A Yi's stock price opened 68.49% higher on its first day, reaching HKD 190.6 per share, with a market capitalization of HKD 20 billion, and its public offering was oversubscribed by 3616.83 times, setting a record for new stock subscriptions in Hong Kong this year [1] - The company, founded in 2013, has expanded from "five-grain milk tea" to fresh fruit tea, with 9,176 stores across over 300 cities and a GMV of CNY 10.736 billion by the end of 2024 [1] Group 2 - The Chinese ready-to-drink tea market is projected to reach CNY 374.9 billion by 2025, with the 10-20 CNY price range experiencing the fastest growth [3] - 59.1% of consumers plan to maintain or increase their tea beverage consumption frequency, indicating a shift from "scale expansion" to "efficiency competition" in the industry [3] - The industry is facing intensified competition and slowing growth, with Hu Shang A Yi's revenue expected to decline slightly in 2024 and average single-store GMV decreasing [3][4] Group 3 - Analysts suggest that the new-style milk tea sector is entering a critical phase of consolidation and competition, with many leading companies accelerating their IPOs to strengthen their overall capabilities and financial resources [3][4] - Hu Shang A Yi primarily operates in northern China, where consumer spending power is relatively lower, posing challenges for sustainable development and future market performance [4] - Despite challenges, the new tea beverage industry is viewed as a high-potential sector, with listings like Hu Shang A Yi expected to drive industry integration and upgrades [4]

Core Viewpoint - The successful listing of "沪上阿姨" on the Hong Kong Stock Exchange marks it as the fourth new tea beverage company to go public this year, reflecting strong investor interest and market potential in the tea beverage sector [1] Company Overview - "沪上阿姨" specializes in "freshly brewed five-grain tea" and opened at a price of 172.4 HKD per share, achieving a market capitalization of 18.075 billion HKD on its first trading day [1] - The company has over 9,000 stores, with 99.7% operated by franchisees, covering all four direct-controlled municipalities and over 300 cities in China [1][2] - The company plans to use the funds raised from its IPO for digital upgrades, product development, and supply chain enhancement, aiming to deepen its existing market presence and expand into more third-tier and below cities [1] Financial Performance - Revenue projections for "沪上阿姨" from 2022 to 2024 are 2.199 billion RMB, 3.348 billion RMB, and 3.285 billion RMB, respectively, with adjusted net profits of 154 million RMB, 416 million RMB, and 418 million RMB [1][4] - The company is one of the fastest-growing brands in the Chinese freshly brewed tea market, with significant revenue growth anticipated, particularly in lower-tier cities [1][4] Market Strategy - The company's expansion strategy focuses on northern markets, avoiding high competition areas in southern cities, and over 50% of its stores are located in third-tier and below cities, which have a population of nearly 900 million and significant growth potential [2] - "沪上阿姨" has adopted a multi-pronged approach to combat industry challenges, including launching a coffee brand "沪咖" to broaden its market reach [2][3] Industry Context - The tea beverage industry is experiencing intense competition, but the lower-tier cities remain a core growth area, with "沪上阿姨" leveraging its experience and franchise model to capture market share [3][4] - The listing of "沪上阿姨" is seen as a revitalizing force for the new tea beverage industry, providing valuable insights for other brands in terms of differentiation and innovation [4]

Core Viewpoint - The new tea beverage company, Hu Shang A Yi, officially listed on the Hong Kong Stock Exchange, becoming the fifth new tea beverage company to do so, with a strong market response reflected in its opening price and subscription demand [1] Group 1: Financial Performance - Hu Shang A Yi achieved revenue of 2.199 billion yuan, 3.348 billion yuan, and 3.285 billion yuan for the years 2022, 2023, and 2024 respectively [1] - The adjusted net profit for the same years was 154 million yuan, 416 million yuan, and 418 million yuan, indicating stable operations [1] - The company's GMV is projected to grow to 10.736 billion yuan by 2024, with registered WeChat mini-program members reaching 115 million and an average quarterly active member count exceeding 17.6 million [1] Group 2: Supply Chain and Store Network - As of December 31, 2024, Hu Shang A Yi's supply chain network includes 12 major logistics bases, 4 equipment warehouses, 8 fresh agricultural product warehouses, and 15 front-line cold chain warehouses [2] - The number of franchisees increased from 3,260 in 2022 to 4,576 in 2023, and is expected to reach 5,455 in 2024, with 30% of franchisees operating more than one store [2] - The total number of stores reached 9,176, covering all four direct-controlled municipalities and over 300 cities across 22 provinces, with 50.4% located in third-tier cities and below [2] Group 3: Investment and Future Plans - Prior to the IPO, Hu Shang A Yi received backing from several investment institutions, including Jia Yu Capital and Jin Yi Capital, with significant investments made since 2020 [3] - The company plans to use the funds raised from the IPO to enhance digital capabilities, develop new products, upgrade equipment, strengthen supply chain capabilities, expand the store network, invest in marketing activities, and supplement working capital [3] - Hu Shang A Yi is also looking to expand into overseas markets, with plans to open stores in Malaysia, the Philippines, and North America, promoting Eastern modern tea culture [3]

Group 1: Company Overview - Hu Shang A Yi successfully listed on the Hong Kong Stock Exchange on May 8, with an opening price of 190.6 HKD, significantly above the initial price range of 95.57-113.12 HKD, resulting in a market capitalization of approximately 20 billion HKD [1] - The company has expanded rapidly since its inception, growing from a single store in Shanghai to 9,176 stores nationwide, with a year-on-year increase of 46.8% in store count [6][7] - Hu Shang A Yi's product pricing ranges from 7 to 16 RMB, targeting the mid-range tea drink market and focusing on high cost-performance to capture the vast lower-tier market [7] Group 2: Market Position and Strategy - The company has positioned itself strategically in the lower-tier market, leveraging its experience in store operations and consumer preferences to effectively enter these markets [7] - Hu Shang A Yi has undergone significant brand upgrades, including the introduction of fruit tea products, which have become popular among consumers, leading to a monthly sales volume exceeding 1 million cups in 2021 [6][8] - The tea drink market in China is projected to grow from 4.748 trillion RMB in 2019 to 8.189 trillion RMB by 2024, with a compound annual growth rate (CAGR) of 11.5%, indicating a robust growth environment for Hu Shang A Yi [9] Group 3: Investment and Financial Backing - Prior to its IPO, Hu Shang A Yi attracted significant investment from notable firms such as Jia Yu Capital and Zhi Yi Investment, which have supported its growth through multiple funding rounds since 2020 [1][8] - The company has successfully integrated capital from cornerstone investors, including Yingfeng Holdings and Huabao Co., which also supplies its key product ingredients [1] - The investment community views Hu Shang A Yi as a leading player in the tea drink sector, with strong product innovation and competitive pricing strategies that align with current consumer demands [8][11] Group 4: Competitive Landscape - The current landscape for ready-to-drink tea is competitive, with a notable increase in both new entrants and closures among existing brands, indicating a challenging environment for market players [10] - The number of closures among tea drink brands has risen significantly, with over 20,000 closures reported in 2024, highlighting the intense competition within the sector [10] - As the market matures, brands are increasingly looking to expand internationally, with Hu Shang A Yi opening its first overseas store in Kuala Lumpur, Malaysia, in February 2024 [10]

格隆汇5月8日，港股上午盘三大指数低开高走，恒生科技指数盘中涨幅近2%，午间收涨1.56%，恒生指数、国企指数分别上涨1.1%及1.48%，恒指有望重回 23000点。 | 代码 | 名称 | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | | 800000 | 恒生指数 | 22941.91 | +250.03 | 1.10% | | 800100 | 国企指数 | 8363.85 | +121.60 | 1.48% | | 800700 | 恒生科技指数 | 5280.96 | +80.92 | 1.56% | | 800151 | 红筹指数 | 3816.15 | +23.48 | 0.62% | | 03033 | 南方恒生科技 | 5.180 | +0.090 | 写 修 隆 こ | 沪上阿姨(2589.HK)首日上市大涨近53%。沪上阿姨是继奈雪的茶、茶百道、古茗、蜜雪集团之后，又一家在港股上市的茶饮新股。根据灼识咨询，截至 2022年及2023年12月31日，沪上阿姨经营着分别为中国第五及第四大的现制茶饮店网络，并于下沉市场拥有庞大网络。公司三 ...