The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Post Hearing Information Pack, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Post Hearing Information Pack. Application Proof of YUEN KEE FOOD GROUP CO., LTD. 袁記食品集團股份有限公司 (A joint stock company incorporated in the Peopl ...

For decades, the crowds outside House of Nanking have been a fixture of San Francisco’s Chinatown, with lines frequently wrapping around the block to get a seat in the cramped, high-energy dining room, under the iconic, multicolored sign that crowns Kearny Street. But for Kathy Fang, the restaurant’s heir apparent, her presence in that kitchen represents a sharp deviation from the “American Dream” her parents envisioned for her—a deviation that initially caused them deep dismay.Peter Fang, the restaurant’s ...

Group 1 - The pre-booking for New Year's Eve dinners in Nanjing hotels and restaurants has entered a "sprint phase" with various establishments competing for customers through unique offerings and promotions [1] - The historic Jinling Hotel has started pre-sales for its "Family Reunion New Year's Dinner" two weeks in advance, featuring classic Huaiyang cuisine and interactive entertainment [2] - The Gu Nan Du Hotel is offering early bird discounts for reservations made before the end of January, with prices set to increase in February [2] Group 2 - The trendy Nan Zhu Que restaurant is implementing a "four-wheel" dining schedule with different time slots and requires full payment upon reservation [4] - The chain restaurant "Xiao Chu Niang" has opened pre-booking for New Year's dinners, offering limited-time promotions including a set of discount vouchers for future visits [6] - The nostalgic restaurant "Ba Lin Hou" emphasizes a unique dining experience with an open kitchen and no pre-prepared dishes, showcasing traditional Nanjing cuisine [8]

Company Overview - Wingstop Inc. (NASDAQ:WING) specializes in cooked-to-order chicken wings, tenders, and sandwiches [2] Market Sentiment - There is significant short interest in Wingstop's stock, attributed to a recent earnings miss and lack of clear guidance from the company [1] - The stock has experienced volatility, with mixed performance noted in the market [1] Competitive Landscape - The restaurant sector, particularly companies like Texas Roadhouse, is facing challenges due to rising food prices, which is impacting overall performance [1][2] - Other restaurant stocks mentioned include Yum and McDonald's, with the latter being downgraded recently [1] Investment Outlook - The current sentiment around Wingstop is cautious, with concerns about high food inflation and the overall risk associated with restaurant stocks [2] - While Wingstop has potential, there are suggestions that certain AI stocks may offer better upside potential with less downside risk [2]

Core Thesis - Kura Sushi may present a buying opportunity due to its unique stock price behavior, characterized by a consistent pattern of peaks and troughs over several years [1] Company Analysis - Kura Sushi USA's stock price has shown a distinct pattern compared to other stocks, indicating potential for investment [1] Investment Strategy - The focus is on identifying long-term investment opportunities within the restaurant and food manufacturing sectors, with an emphasis on growth potential and valuation metrics [1]

Core Insights - The article emphasizes the expertise of a seasoned equity analyst who specializes in the U.S. restaurant industry, covering various segments from quick-service to fine dining [1] - The analyst employs advanced financial modeling and sector-specific KPIs to identify hidden value in public equities, particularly focusing on micro and small-cap companies often overlooked by mainstream analysts [1] Industry Focus - The research firm, Goulart's Restaurant Stocks, is dedicated to thematic research and valuation efforts within the restaurant sector, indicating a strong commitment to uncovering investment opportunities [1] - The analyst also covers related sectors such as consumer discretionary, food & beverage, and casinos & gaming, showcasing a broad understanding of interconnected industries [1] Academic and Professional Background - The analyst holds an MBA in Controllership and Accounting Forensics, along with a Bachelor's in Business Administration, which provides a solid academic foundation for the research conducted [1] - Specialized training in valuation, financial modeling, and restaurant operations enhances the analyst's ability to provide insightful analysis and recommendations [1]

Core Viewpoint - The Trump administration is promoting increased protein consumption among Americans, with corporate brands supporting this initiative [1] Industry Response - Major food brands are aligning their marketing strategies to emphasize protein-rich products in response to the administration's call [1] - The trend towards higher protein diets is influencing product development and advertising strategies across the food industry [1] Consumer Behavior - There is a growing consumer interest in protein as a key component of diets, leading to increased sales of protein-based products [1] - The shift in dietary preferences is prompting companies to innovate and expand their protein offerings to meet consumer demand [1]

Group 1 - The "Talent Night Market" initiative in Jiangsu aims to provide job opportunities in a relaxed environment, attracting young job seekers during nighttime events [1][2] - Over 2,300 job positions were offered by more than 50 employers, covering sectors such as software, intelligent manufacturing, cultural tourism, and hospitality [1] - The event is part of a broader strategy to extend public employment services beyond traditional hours, addressing the mismatch in availability between job seekers and employers [1][3] Group 2 - Job positions at the event included high-end roles in technology, such as AI algorithm engineers with salaries exceeding 10,000 yuan per month, and positions in manufacturing and service sectors aimed at ensuring stable operations during peak seasons [3] - The initiative is expected to be a regular occurrence, with plans to hold monthly events across various public employment service locations, enhancing accessibility for job seekers [3][4] - The program will also include skill training sessions, known as "Skill Night Schools," focusing on digital professions and other relevant fields, with a target of training over 60,000 individuals throughout the year [4][5]

Core Viewpoint - Jack in the Box Inc. has repaid $105 million of its existing Series 2019-1 4.476% Fixed Rate Senior Secured Notes, Class A-2-II, as part of its ongoing debt reduction strategy under the "JACK on Track" plan [1]. Group 1 - The repayment of $105 million reflects the company's commitment to strengthening its balance sheet [1]. - This action is part of a broader strategy to prioritize debt reduction [1]. - The company emphasizes the meaningful progress made towards positioning itself for sustainable growth [1].

Core Insights - Starbucks Corporation (SBUX) is strategically reshaping its store base in North America, focusing on closures and portfolio pruning to enhance unit economics [1][4] - The company recorded a net decline of approximately 107 global company-operated store closures in fiscal Q4 2025, indicating a reassessment of its cafe portfolio [1][10] Store Closures and Operational Strategy - The stores selected for closure were underperforming and lacked a clear path to profitability, with expectations that operating margins will improve as lost sales shift to higher-productivity cafes [2][10] - The closures are part of a broader strategy to enhance unit-level economics and capital efficiency, with investments in targeted cafe renovations and lower-cost store prototypes [3][10] Focus on Portfolio Quality - Starbucks is emphasizing portfolio quality over quantity, aiming to rebuild traffic in key segments while maintaining a productive store base to improve profitability [4] - Management indicated that margin recovery will be gradual, but early improvements in comparable transactions support the operational reset aimed at strengthening unit-level profitability [4] Competitive Landscape - Starbucks' portfolio reset contrasts with the growth strategies of competitors like Dutch Bros Inc. and Chipotle Mexican Grill, which are focused on unit expansion despite current market challenges [5][6] - While Dutch Bros emphasizes unit growth with strong early productivity, Chipotle is accelerating development while managing softer traffic trends [5][6] Valuation and Earnings Estimates - Starbucks shares have declined 4.1% over the past year, compared to a 3.1% decline in the industry [8] - The company trades at a forward price-to-sales ratio of 2.56, below the industry average of 3.52 [12] - The Zacks Consensus Estimate for SBUX's fiscal 2026 earnings per share (EPS) implies an 8.9% year-over-year increase, although EPS estimates have declined in the past 30 days [14]