Chinese consumer stocks surged on strong full-year earnings, but analysts caution that the results signal structural divergence rather than a broader recovery in the consumer market.

Major Chinese consumer stocks listed in Hong Kong rose sharply following strong full-year earnings, though analysts said the results did not point to a broad recovery in the consumer market but rather highlighted structural divergence and new growth drivers in mainland China consumption. Bubble tea chain Mixue Group posted better-than-expected results for 2025, with sales reaching 33.56 billion yuan (US$4.87 billion), up 35.2 per cent year on year, while net profit rose 32.7 per cent to 5.88...