Changes in Hong Kong stocks | Master Kong Holdings (00322) is now up more than 3%. Wei Hongcheng, son of the founder, took over as CEO and returned to family governance

The Zhitong Finance App learned that Master Kong Holdings (00322) is now up more than 3%. As of press release, it has risen 3.06% to HK$12.47, with a turnover of HK$132 million.

According to the news, on December 18, Master Kong issued an announcement stating that CEO Chen Yingrang has decided to retire and will not renew his service contract with the company. The new CEO is Wei Hongcheng, which will take effect from January 1, 2026. According to reports, the new CEO Wei Hongcheng is the younger brother of Chairman Wei Hongming and the son of founder Wei Yingzhou. His succession marks the end of Master Kong's 11-year career as a professional manager, and the Wei family will fully control Master Kong.

Goldman Sachs released a research report at the beginning of last month saying that Master Kong is still facing challenges in the 2025 fiscal year sales target, which is mainly hampered by the weakness of the beverage business; however, profit targets are still expected to be achieved, mainly due to pricing base effects, cost efficiency improvement measures, and strict promotion management. Looking ahead to 2026, Master Kong's management reiterated that improving profit margins will be the core focus, and is expected to resume the revenue growth trajectory and continue to promote efficiency improvement measures. Companies usually lock in purchases for each category of raw materials for half a month to several months.