HK Stock Market Move | NONGFU SPRING (09633) has risen more than 3% and is currently experiencing a four-day winning streak. The Wahaha milk battle has affected its sales, but the company's market share is gradually recovering.
Nongfu Spring (09633) rose by over 3%, with the stock price currently showing four consecutive gains. As of the time of writing, it is up by 3.05% and trading at HK$45.6, with a turnover of HK$3.42 billion.
NONGFU SPRING (09633) rose by over 3%, with its stock price showing a four consecutive rise. As of the time of writing, it rose by 3.05%, reaching 45.6 Hong Kong dollars, with a trading volume of 3.42 billion Hong Kong dollars.
On the news front, the Wahaha Zhongs family's billion-dollar property dispute case will have new developments on August 1. Information from the Hong Kong High Court website indicates that the relevant case will be heard in the Hong Kong High Court on August 1. A report from Lyon mentioned that the Wahaha property dispute case may impact the group's product sales and market share, while competitors NONGFU SPRING and CR BEVERAGE are expected to benefit from it, accelerating their market share growth.
The report points out that the negative perception of Wahaha's founder, Zong Qinghou, and the company's governance may lead to changes in consumer preferences. Channel data shows that Wahaha's sales of bottled water have significantly decreased, with average weekly sales in the first week of July ranging from 75,000 to 100,000 RMB, dropping to between 25,000 and 50,000 RMB on July 18-19. In contrast, NONGFU SPRING has shown strong double-digit growth in sales of bottled water since March, with expectations of its market share gradually recovering, while CR BEVERAGE may also benefit from this situation.
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