Catering stocks saw further gains in late trading. At the time of writing, JIUMAOJIU (09922) rose 6.67% to HKD 1.92, DPC DASH (01405) climbed 4.95% to HKD 80.5, HAIDILAO (06862) advanced 4.82% to HKD 13.69, and YUM CHINA (09987) increased 3.02% to HKD 348.

Recent data from the National Bureau of Statistics showed that China's consumer price index (CPI) rose 0.2% month-on-month and 0.2% year-on-year in October, supported by domestic demand-boosting policies and the Mid-Autumn and National Day holidays. The core CPI, excluding food and energy prices, grew 1.2% year-on-year, marking the sixth consecutive month of expansion.

Guojin Securities noted that while the catering sector faced pressure in September due to industry sentiment, same-store sales have shown signs of recovery since the National Day holiday. The sector remains in a phase of store expansion and efficiency improvement, with potential for stronger growth if consumption continues to rebound.

CITIC Securities highlighted that after the reduction in food delivery subsidies, competitive advantages such as core business models, overseas expansion validation, franchisee support capabilities, and supply chain development will become increasingly critical.