China's Snack Retail War: 2,951 New Stores in One Month

Very Bullish

What Happened

In September 2026, Chinese snack retail chains Mingming and Wanchen opened a combined 2,951 net new stores, according to Douyin data. The broker highlights these two stocks as top picks in the retail revolution, trading at ~12x current-year earnings.

Bottom Line

The snack retail duopoly is rapidly scaling, and the broker is bullish on both Mingming and Wanchen at current valuations.

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