Changes in Hong Kong stocks | Gaoxin Retail (06808) rose more than 3%, UBS is optimistic about the company's transformation plans, and the strength of Da Runfa products is expected to improve

The Zhitong Finance App learned that Gaoxin Retail (06808) rose more than 3%. As of press release, it had risen 3.57% to HK$1.74, with a turnover of HK$5.3693 million.

According to the news, recently, Gaoxin Retail issued an announcement stating that Li Weiping became the executive director and CEO of Gaoxin Retail, and that Shen Hui resigned as executive director and CEO of Gaoxin Retail due to family matters. All relevant personnel changes will officially take effect on December 1, 2025. According to the announcement, Li Weiping has been deeply involved in the retail industry for 26 years. She joined Hema in 2018 and has held important positions such as General Manager of North China Beijing Region, CEO of Hema Xiansheng, and Chief Product Officer of Hema.

UBS said it is optimistic about Gaoxin's retail transformation plan, but due to the fierce market competition of delivery platforms and the transformation and upgrading of offline food retail stores, the bank is still cautious about the short-term outlook. UBS said that through management's plans to reduce the number of SKUs, reduce the store area, and accelerate the launch of new products, Da Runfa's product strength is expected to improve. Management aims to increase the sales share of private label products from 3% now to 10% within three years and reach 20% over the long term.