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Investing.com - HSBC initiated coverage on Yankershop Food Co Ltd (SHE:002847) with a Buy rating and set a price target of RMB95.50.
The Chinese snack food manufacturer has established itself as a leader in in-house production with a comprehensive control system spanning from product research and development to mass production, according to HSBC.
Yankershop’s product strategy focuses on high-quality, affordable offerings across six core categories, with spicy snacks representing approximately 37% of the company’s total revenue in 2024.
The company has demonstrated strong growth in key product segments, with konjac products achieving a compound annual growth rate (CAGR) of 93% between 2021 and 2024, while soybean products grew at a CAGR of 21% during the same period.
HSBC highlighted significant upside potential specifically in the konjac snacks category, which it expects will further boost Yankershop’s revenue growth in the future.
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