Wall Street Firm Halts Coverage of Chinese Consumer Stocks, Analyst Sees Potential Bottom

Deep News18:30

On May 27th, a statement from the Wall Street brokerage firm Bernstein circulated online. A screenshot of the circulated statement shows that Melinda Hu, Bernstein's Asia consumer stocks analyst based in Hong Kong, stated that due to the departure of a senior analyst, coverage of the Chinese consumer sector will be terminated effective May 26, 2026.

Specifically, coverage will be terminated for the following companies: ANTA Sports (2020.HK), Giant Biogene (2367.HK), Gree Electric Appliances (000651.CH), Marubi (603983.CH), Haier Smart Home (600690.CH), Haier Group (6690.HK), Jiajiyue Group (603708.CH), Li Ning (2331.HK), Midea Group (300.HK), Midea Group (000333.CH), Pop Mart (9992.HK), Proya (603605.CH), Shiseido (4911.JP), Shiseido (SSDOY), Sun Art Retail (6808.HK), Yonghui Superstores (601933.CH), and Yunnan Baiyao (300957.CH). The statement noted: "Effective immediately, our prior reports, ratings, price targets, and earnings forecasts should no longer be relied upon." In response, Chen Guo, Deputy Director and Chief Strategist of the East Money Information Research Institute, commented: "With extreme signals emerging frequently recently, Chinese consumer stocks are highly likely at a historic bottom." AllianceBernstein is a global asset management firm providing research, investment, and wealth management services to institutional, retail, and private clients. Founded in 1967 and headquartered in New York City, the firm operates in over 25 countries worldwide. LinkedIn information indicates Melinda Hu joined Bernstein in May 2018 as a Senior Equity Research Analyst.

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