Core Viewpoint - The restaurant sector is experiencing a recovery since the beginning of 2023, driven by demand and supply dynamics, with leading brands expected to see positive customer traffic in the second half of 2025 [1] Group 1: Stock Performance - Notable stock increases include Haidilao (06862) up 9.64% to HKD 15.8, Jiumaojiu (09922) up 4.84% to HKD 1.95, Helen's (09869) up 3.33% to HKD 12.99, and Tehai International (09658) up 3.26% to HKD 12.99 [1] Group 2: Industry Analysis - According to Zheshang Securities, the recovery in the restaurant industry is largely determined by demand, while the pace is dictated by supply, with expectations for most leading brands to achieve positive customer traffic in the second half of 2025 [1] - The average customer spending is stabilizing or increasing for many leading brands, indicating a recovery in pricing power [1] - The report suggests that the bottom has been reached for customer spending and single-store performance among leading brands, with ongoing monitoring of same-store sales growth and sustainability [1] Group 3: Competitive Landscape - Guotai Junan notes that the overall demand in the restaurant supply industry has been under pressure in recent years, leading to intensified competition driven by market share concerns [1] - The marginal benefits from price competition have significantly decreased, prompting leading companies to adopt a more rational competitive stance [1] - The profitability of the restaurant supply sector has shown signs of recovery, indicating that the worst operational period has passed, with competition becoming more rational and leading companies innovating in new products, channels, and markets [1]