Changes in Hong Kong stocks | Gu Ming (01364) rose more than 13% at the end of the session, and once surpassed HK$38 billion. Institutions say it still has plenty of room to expand

The Zhitong Finance App learned that Gu Ming (01364) rose by more than 13%. As of press release, it rose 13.15% to HK$16, with a turnover of HK$94.624 million. At one point, the total market value surpassed HK$38 billion.

According to the news, Gu Ming announced that on March 9, the overall coordinator partially exercised the over-allotment rights, involving a total of 21.8692 million shares, accounting for 12% of the total sale. The price per share was HK$9.94, and the net additional income was approximately HK$209 million. Furthermore, the stable price period for global sales ended on March 9. During this period, the price stabilizer Goldman Sachs (Asia) continuously bought a total of 17.9992 million shares in the market.

Debon Securities believes that in the future, the company will rely on supply chain and product development advantages, and is expected to continue to steadily expand its store network and increase market share through the franchise model. Furthermore, the company operates the mass tea shop business, focusing on second-tier cities and below, where the industry expects to grow the fastest. The provinces in mainland China that have not yet reached a critical scale by 2023 together account for 48% of the total ready-to-drink tea shop market, and there is still plenty of room for expansion.