The three consumer stocks in Hong Kong have become four sisters! "The new Moutai for young people" has reached a historical high. How should the current "new consumption" trend be viewed?
Each generation has its own "Moutai".
Since 2025, a capital frenzy led by new consumption is unfolding in the Hong Kong stock market.
Today, $MIXUE GROUP (02097.HK)$、 $POP MART (09992.HK)$、 $LAOPU GOLD (06181.HK)$、 $MAO GEPING (01318.HK)$ the three consumption sisters have joined hands to set a new historical high, making them the four consumption sisters.
How to view the current "New Consumption" market trend?
Behind this phenomenon of explosive popularity is the strong rise of the "emotional consumption" era!
According to the Securities Daily report,The explosive popularity of new consumption stocks in Hong Kong reflects the underlying logic of the rise of new consumption in China.
Firstly, new consumption supply innovation disrupts industry logic.
New consumption enterprises create demand through supply, overturning traditional industry logic. An important manifestation of supply innovation is seen in product-level innovation. In the past, products were often uniform and met only the most basic needs of the public. Today, a number of new consumption companies are rewriting the rules of the game with disruptive supply innovation, building an innovation matrix that includes technological research and development, cultural empowerment, and ecological collaboration.
Specifically, the Mixue Group stands out in the tea beverage market with an extreme cost-performance strategy, where its products priced between 2 to 8 yuan dominate market share against High Stock Price competitors, establishing a business model of "low price but high profit," reflecting the perfect combination of "high cost-performance" and "lower-tier markets."
Secondly, new consumption demand is stratified, reshaping market structure.
The essential difference between new consumption and traditional consumption lies in the shift from 'material satisfaction' to 'emotional resonance.' The competitive focus of the consumer market has turned from channel competition to how to accurately position in segmented tracks.
It can be seen that the generational transition in consumption is accelerating, with Generation Z accounting for 47% of the total consumer population. Their 'self-consumption' and 'social consumption' are leading a transformation in consumer concepts, reshaping the market structure. For example, POP MART has become a social currency and a new favorite for collectors among young people with its IP matrix. Its new products and bestsellers continuously reveal the changing consumption concepts of today's youth: placing more emphasis on the emotional value and experiential economy during the consumption process, and are willing to pay for hobbies and unique experiences.
Finally, the diversification of new consumption models is forcing a major transformation in the supply chain.
Whether buying a cup of freshly made lemon tea or unboxing a limited edition blind box, behind these seemingly simple new consumption experiences is an efficiency transformation in China's manufacturing supply chain. The diversification of new consumption models is rewriting the logic of the supply chain. When Mixue Group reduced the cost per cup to 3 yuan through its self-built cold chain Logistics, the 'price war' of traditional tea brands became meaningless. When orchard data connects directly to the milk tea shop's fridge, the traditional supply chain has evolved into a real-time responsive value network. The ultimate goal of this transformation is to create a value symbiosis between 'consumers—enterprises—suppliers.'
So why does this round of funding favor Hong Kong's consumption stocks?Scarcity and high growth.
Currently, most constituent stocks of the Hong Kong Stock Connect Consumption Index are at historical low valuation levels. Compared to the strict profit thresholds of A-shares, Hong Kong stocks allow different rights for the same share and accept unprofitable enterprises, opening the door for new consumption forces. Policies such as the 'Five Measures to Benefit Hong Kong' by the State Council further optimize the listing environment and attract emerging brands to line up for Hong Kong. In addition, since the beginning of this year, boosting consumption and expanding domestic demand have become top priorities for development, making the consumption sector one of the investment hotspots.
What other new consumption concept stocks are worth paying attention to?
Guangfa Value Core Fund Manager Wu Yuanyi stated that,In the New Consumption Sector, new consumption models are emerging in various fields, such as the "Millet Economy" and national tide consumer goods, showcasing the transformation and progress in the consumption field driven by the development of the times.
Yongying Emerging Consumption Select Fund Manager Jiang Weihua stated that,Each era has its own enterprises,companies that are proactive and able to uncover unmet consumer needs will always be rewarded by the market. The demand for many traditional consumer goods has already been well met, while the demand for self-satisfying products still has a large gap; we remain positively focused on these new areas.
Previously, Futu News"Every generation has its own "Moutai"! The Hong Kong Stock "New Consumption Three Sisters" continues to set new highs, what other opportunities are worth capturing?"also organized some new consumption companies in the Hong Kong stock market for investors' reference:
Dining, tea drink and others include $MIXUE GROUP (02097.HK)$ 、 $GUMING (01364.HK)$ 、 $CHABAIDAO (02555.HK)$ 、 $NAYUKI (02150.HK)$ 、 $AUNTEA JENNY (02589.HK)$ 、 $WL DELICIOUS (09985.HK)$ 、 $GUOQUAN (02517.HK)$ 、 $DPC DASH (01405.HK)$ ；
New energy vehicles include $XIAOMI-W (01810.HK)$ 、 $LI AUTO-W (02015.HK)$ 、 $XPENG-W (09868.HK)$ 、 $NIO-SW (09866.HK)$、 $LEAPMOTOR (09863.HK)$Wait.
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Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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