高盛：料今年内地餐饮销售增长加快至同比升4.2% 调整古茗与蜜雪集团目标价

Group 1 - The core viewpoint of the article is that Goldman Sachs expects a faster growth in mainland China's restaurant sales, projecting a year-on-year increase of 4.2% this year, surpassing last year's growth of 3.2% [1] - Despite the overall consumer spending not showing significant improvement, the restaurant demand has stabilized over the past few months [1] - The industry is experiencing price increases, which are believed to be a response to rising operational and raw material costs, as well as an increase in the proportion of takeaway orders supported by recovering demand [1] Group 2 - For ready-to-drink beverage companies, the second to third quarters of this year will face challenges due to high comparable sales growth from the previous year [1] - However, the current level of takeaway subsidies is higher than expected, along with product variety expansion and richer consumption scenarios, which support same-store sales growth [1] - The rising proportion of takeaway orders may negatively impact profitability and store performance, potentially requiring brands to provide support or subsidies [1] Group 3 - The company continues to be optimistic about leading players in the ready-to-drink beverage industry, including Gu Ming (01364) and Mixue Group (02097) [1] - The target price for Gu Ming has been raised to 34 HKD, while the target price for Mixue has been adjusted to 493 HKD, with ratings of "Confident Buy" and "Buy" respectively, particularly favoring Gu Ming [1]