Hong Kong stock movement: MIXUE GROUP fell 10.80%, UBS downgraded its rating, triggering market panic and intensifying short-term selling pressure

Hong Kong Stock Movement MIXUE GROUP fell 10.80%. Based on recent news, On January 28, UBS downgraded MIXUE GROUP to "Neutral" and lowered the target price from 490 yuan to 468 yuan. UBS pointed out that rising raw material costs, an increase in the proportion of takeout, and intensified competition have pressured gross margins, expecting a gross margin of 29.7% in 2026, down 1 to 2 percentage points from 2025. UBS also mentioned that the one-year lock-up period for pre-IPO investors is expiring, which may bring short-term selling pressure. On January 28, MIXUE GROUP's stock price showed unusual movement in the morning session, dropping to a low of 396 yuan, nearly a 10% decline from the previous day. The trading volume increased to 721 million yuan, the highest since October 10, 2025. The market reacted strongly to UBS's downgrade, leading to a significant drop in stock price. On January 27, Zhitong Finance reported that Western Securities released a research report upgrading MIXUE GROUP to a "Buy" rating, believing that its main brand's overseas market expansion is expected to exceed expectations. However, the market reacted more strongly to UBS's negative rating, leading to a continued decline in stock price. Industry competition is intensifying, and raw material costs are rising. Top Stocks by Industry Trading Volume Meituan-W rose 1.61%. Based on recent key news: On January 28, Meituan recorded large transactions, with the stock price rising 1.1% and trading volume reaching 35.14 million yuan, indicating positive buying sentiment in the market. Source: Economic Information Daily On January 27, Tencent announced its exit from its investment in Meituan, which may affect market confidence in Meituan, but the stock price still rose, showing market recognition of its business resilience. Source: Jiemian News On January 28, China International Capital Corporation released a report maintaining Meituan's "Outperform" rating with a target price of 125 Hong Kong dollars, due to its business resilience and solid market position. Source: Economic Information Daily. Hong Kong tech stocks are active, driven by AI demand. Haidilao fell 1.51%. Based on recent key news: On January 28, Haidilao opened its first dessert shop in Shanghai, adopting a "store within a store" model to expand light consumption scenarios. This move is seen as a strategy to address growth bottlenecks in its main business, although the short-term impact on performance is limited, the market is cautiously observing its diversification attempts. On January 26, Haidilao launched the "Pomegranate Plan," incubating multiple restaurant brands to seek new growth curves. Although the plan has shown initial results, its support for overall performance remains insufficient, leading to a lack of investor confidence. On January 26, Haidilao's table turnover rate decreased to 3.8 times/day, down from 4.2 times/day in the same period last year, reflecting a decline in brand popularity, which affects stock performance. Competition in the restaurant industry is intensifying, and there is a high demand for innovation. Guming fell 3.41%. Based on recent key news: On January 28th, MIXUE GROUP's stock price fell sharply, and UBS downgraded its rating to neutral, affecting the market sentiment of the entire tea beverage industry, leading to a decline in Gu Ming's stock price. The net profit expectations for MIXUE GROUP were lowered, reflecting short-term gross margin pressure and rising raw material costs, which in turn dragged down Gu Ming's stock price. On January 26th, Gu Ming recorded large trades in pre-market trading, with transaction prices up 0.71% to 0.72% compared to the previous closing price, indicating market attention to its short-term trends, but failed to prevent subsequent stock price declines. On January 28th, Ming Ming Hen Mang performed strongly on its first day of listing, attracting market attention, with funds flowing into the new consumption sector, putting pressure on Gu Ming and other tea beverage stocks. Ming Ming Hen Mang's market capitalization far exceeded that of Gu Ming, leading to a decline in Gu Ming's stock price. Competition in the tea beverage industry intensified, with funds flowing into the new consumption sector. Stocks ranked at the top of the industry market capitalization Yum China rose 2.11%. Based on recent key news: On January 26th, KFC, a subsidiary of Yum China, raised its takeout menu prices, with an average increase of RMB 0.8. This move aims to address changes in operating costs and maintain stable and healthy operations. Citi believes that this is a good time for price adjustments, expecting restaurant profits to increase by 7%. Source: Zhitong Finance On January 26th, Yum China repurchased approximately 61,400 shares and 20,300 shares on the NYSE and HKEX respectively, demonstrating the company's confidence in its own value. Source: Zhitong Finance On January 27th, Citi updated Yum China's quarterly performance forecast, expecting total sales in the fourth quarter of last year to increase by 3% year-on-year, operating profit to increase by 11% year-on-year, and net profit to increase by 12% year-on-year. This forecast is higher than the company's performance guidance. Source: Zhitong Finance The restaurant industry is recovering, with significant capital inflow