Food Over the past few days, Dongfang.com·Zongxiang News has exclusively reported on the event that the leader of the Taiwan authorities, Tsai Ing-wen, went to a 85 degree C coffee chain store when she "transited" in the United States. The stock price of the parent company of 85°C, Gourmet-KY (2723), suffered a severe setback today after falling by the limit yesterday. Fortunately, the weekend is approaching, and the stock price of gourmet KY this week will finally not fall again...
The day before yesterday, 85 degrees C issued a statement expressing support for the " 1992 Consensus ". Yesterday, 85°C issued another statement, citing the opinion of Lien Chan's eldest son Lian Shengwen, stating that he is "not a Taiwan-independent enterprise."
However, at the opening of the market today, 85°C’s parent company Gourmet-KY continued to bottom out. As of the close, the stock price was hit at a price limit of NT$228, a drop of more than 9.8%. Taiwan's stock market fell over the same period. In the past three days, the cumulative decline of Gourmet KY has reached 20%, the stock price has hit a new low in one and a half years, and the company's market value has evaporated by nearly 2 billion yuan.
Gourmet KY Weekly K-line Chart
Over the past six years, Gourmet-KY has been the "king of catering stocks" in the Taiwan stock market. However, with the continuous three-day decline, Gourmet-KY has "fallen from the altar", and its total market value has been surpassed by other companies.
85°C currently has more than 1,000 stores around the world, including 435 in Taiwan and 589 in the mainland, accounting for more than 50% of the stores in the mainland. According to the public financial report, as of 2017, Gourmet KY’s consolidated revenue was NT$23 billion (approximately RMB 5 billion). Among them, the mainland market contributed more than 64%.
Gourmet-KY last year, due to its outstanding performance in the US market, its stock price soared to a historical high price of NT$439. However, with the turmoil in Taiwan's stock market, the stock price of Gourmet-KY has fallen by nearly 30% year-on-year this year. Tsai Ing-wen's visit this time is undoubtedly worse. (Dongfang.com Zongxiang News Reporter Bian Yinghao)
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