Mingming Very Busy officially announced that the number of national stores has exceeded 30,000. The Huaxia Stock Connect Consumer ETF (513230) rose by nearly 1%.

On July 23, the Hong Kong stock market opened slightly higher, with gains gradually expanding. The Hang Seng Index rose nearly 1.5%, and the Hang Seng Tech Index gained nearly 0.5%. The HK Stock Connect consumer sector showed volatile upward momentum in the morning session, with the Huaxia Consumer ETF (Stock Connect) (513230) rising nearly 1%. As of July 22, the scale of the Huaxia Consumer ETF (Stock Connect) (513230) reached 283 million yuan.

On July 21, Mingming Hen Mang Group officially announced that as of July 20, 2026, the total number of signed stores under its group exceeded 30,000, making it the first domestic leisure food and beverage chain enterprise to reach a scale of 30,000 stores. In 2025, Mingming Hen Mang's full-year GMV reached 93.569 billion yuan, with an adjusted net profit of 2.692 billion yuan. Indicators such as inventory turnover and the multi-store rate of franchisees led the industry. This milestone marks the industry's transition from scale expansion to a high-quality development stage focused on "competing on operational quality and driving scale growth."

From 10,000 stores to 30,000 stores, Mingming Hen Mang took less than two years. Essentially, this is the ultimate demonstration of "scale effect + supply chain efficiency" in the discount snack track. After reaching 30,000 stores, the logic of industry competition will shift from "store expansion speed" to "single-store quality." Franchisee profitability and supply chain response efficiency will become the core factors determining success in the next phase. For the industry, Mingming Hen Mang's milestone of 30,000 stores also means that similar brands like Wanchen Biology and Bestore face greater competitive pressure, and industry concentration is expected to further increase.

The Huaxia Consumer ETF (Stock Connect) (513230) tracks the CSI China-Hong Kong Stock Connect Consumer Theme Index. This index covers leading traditional service industries such as liquor, travel, and catering, and also includes high-elasticity assets such as trendy toys and gold jewelry, as well as high-dividend targets like sportswear and white goods. The constituent stocks almost encompass all sectors of Hong Kong stock connect consumer markets, including Pop Mart, Mixue Group, Yum China, Lao Pu Gold, Anta Sports, Nongfu Spring, and other consumer leaders.