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[Hong Kong Stock Connect] MINISO (09896) rose 4.2% as Institutions indicated significant growth in overseas Business, with a noticeable improvement in profitability.
Jingwu Financial News | MINISO (09896) stock price rises, as of the time of writing, up 4.2%, reported at 48.35 Hong Kong dollars, with a transaction volume of 0.128 billion Hong Kong dollars. On the news front, on December 9, MINISO revealed that as of now, it has partnered with over 150 well-known IPs Global, driving sales of more than 0.8 billion IP products. In terms of the reserve of second-dimensional IP, it is expected to launch self-developed Guzi-related peripheral products monthly next year, creating differentiated creative products through commissioning, secondary creation, and other methods, while collaborating with Bandai to launch more official Japanese Guzi peripherals. Currently, the company has built a platform in Shanghai consisting of
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Before the Federal Reserve's decision, the rally of U.S. stocks faltered, the Nasdaq said goodbye to record highs, the Dow fell for nine consecutive days, Broadcom dropped over 4%, Chinese concept stocks rebounded against the trend, and Bitcoin reached a
The Dow Jones has seen its first nine consecutive declines since 1978; NVIDIA has seen four consecutive declines, while Tesla has risen over 3% against the trend, hitting new highs for three consecutive days. Chinese concept stocks rebounded nearly 2%, with PDD Holdings rising nearly 3% and Bilibili increasing over 4%. Salaries in the United Kingdom have grown faster than expected, with two-year UK bond yields rising 10 basis points in one day. The USD has rebounded; the Canadian dollar has hit a more than four-year low since the pandemic; Bitcoin surged over $0.108 million during trading, hitting a new historical high for two consecutive days. Crude Oil Product has fallen for two consecutive days, with US oil dropping more than 2% at one point; Gold has hit a new low for the week.
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[Brokerage Focus] Huachuang Securities has upgraded MINISO (09896) to a 'Strong Buy' rating, indicating that its overseas store openings are performing well.
Jinwu Financial News | According to Huachuang Securities' research report, MINISO (09896) reported a 19.3% year-on-year revenue growth in Q3 2024, reaching 4.52 billion yuan, with adjusted Net income (Non-IFRS) at 0.69 billion yuan, a year-on-year increase of 6.9%, all meeting expectations. The report states that domestic revenue in Q3 2024 was 2.71 billion yuan, +8.7% year-on-year, among which MINISO brand revenue grew by 5.7% year-on-year to 2.44 billion yuan, while TOPTOY brand revenue surged by 50.4% year-on-year to 0.27 billion yuan. From Q1 to Q3 of 2024, the net increase in domestic stores was 324, bringing the total to 4250 stores, and the store opening pace is in line with expectations.
[Brokerage Focus] Guosheng Securities maintains a "Buy" rating on MINISO (09896), indicating that its profitability has clearly improved and its performance continues to exceed expectations.
Jingwu Financial News | Guosheng Securities research report indicates that MINISO (09896) achieved revenue of 12.281 billion yuan in Q1-Q3 2024, a year-on-year increase of 22.8%. The adjusted Net income reached 1.928 billion yuan, with a year-on-year increase of 13.7%. Excluding foreign exchange gains and losses, the adjusted Net income increased by 18.3% year-on-year. In Q3 2024, the revenue was 4.523 billion yuan, up 19.3% year-on-year, and the adjusted Net income was 0.686 billion yuan, a 6.9% year-on-year increase. The report states that as a Global leader in daily necessities retail, the company is rapidly expanding worldwide with a light asset model, leveraging advantages in channels and supply chains, and has also incubated trendy toys.
Hong Kong stock movement | MINISO (09896) rose more than 5% in the morning. The company will launch self-developed millet-related products next year, and the Yonghui Trade is expected to be implemented in the first half of next year.
MINISO (09896) rose over 5% in early trading, as of the time of writing, up 5.24%, at 49.25 Hong Kong dollars, with a transaction amount of 0.113 billion Hong Kong dollars.
Huachuang Securities: raised the Target Price for MINISO (09896) to 64-70.4 Hong Kong dollars and upgraded the rating to 'Strong Buy'.
Huachuang Securities predicts MINISO's net income for 2024-2026 will be 2.734 billion/3.745 billion/4.82 billion.
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The Nasdaq fell to 0.02 million points, Adobe plummeted more than 13%, the China concept Index rose against the trend, and Bitcoin dropped below 0.1 million dollars.
In November, USA PPI inflation exceeded expectations, with the market betting on a pause in interest rate cuts in January next year. The Dow has fallen for six consecutive days, with NVIDIA experiencing the largest drop of 2.5%. Tesla, Meta, Google, and Amazon have moved away from their highs, uranium mining stocks have declined, but Apple reached a new high. Broadcom rose nearly 5% in after-hours trading, and Chinese stocks Baidu and PDD Holdings increased by over 1%. Bond yields in Europe and the USA have risen significantly, and after the European Central Bank cut interest rates, the euro fell to a one-week low, before rebounding. The dollar reached a two-week high, while the offshore yuan once rose over 200 points, breaking through 7.26 yuan. Commodities generally fell, with spot gold down over 2% and spot silver down over 4% during the session.