Group 1 - MINISO Group Holding Limited Unsponsored ADR (MNSO) ended the recent trading session at $23.15, showing a +1.14% change from the previous day's closing price, outperforming the S&P 500's daily loss of 0.95% [1] - Over the past month, shares of MINISO have decreased by 7.96%, underperforming the Retail-Wholesale sector's gain of 7.69% and the S&P 500's gain of 1.86% [1] Group 2 - The upcoming earnings release of MINISO Group Holding Limited Unsponsored ADR is highly anticipated by investors, and monitoring recent shifts in analyst projections is recommended [2] - Positive revisions in estimates indicate analysts' confidence in the company's business performance and profit potential [2] Group 3 - The Zacks Rank system, which includes estimate changes, has shown a strong track record of outperformance, with 1 ranked stocks yielding an average annual return of +25% since 1988 [4] - Currently, MINISO Group Holding Limited Unsponsored ADR holds a Zacks Rank of 3 (Hold) [4] Group 4 - MINISO Group Holding Limited Unsponsored ADR has a Forward P/E ratio of 15.47, which is a premium compared to its industry's average Forward P/E of 15.26 [5] - The company has a PEG ratio of 0.8, while the Retail - Apparel and Shoes industry has an average PEG ratio of 1.23 [6] Group 5 - The Retail - Apparel and Shoes industry, part of the Retail-Wholesale sector, has a Zacks Industry Rank of 74, placing it in the top 30% of all industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Core Insights - MINISO's growth in the U.S. is driven by successful localized operations and brand enhancements, achieving a 250% membership growth in 2024, totaling around 2 million members [1][2] - Member spending has nearly quadrupled compared to the previous year, indicating the effectiveness of the membership program [2] - Localized strategies have significantly boosted blind box sales, contributing approximately one-quarter of 2024 performance [3] Membership and Spending - Membership growth in 2024 was accompanied by a significant increase in member spending, which grew at a faster pace than membership [2] - The proportion of overall sales driven by member purchases has notably increased, showcasing the success of the membership initiative [2] Localization Strategies - MINISO's localization strategy includes tailoring product offerings to local consumer preferences and collaborating with popular local IPs like Harry Potter and One Piece [5] - The company has diversified its store formats in the U.S. by opening IP-themed pop-up stores and expanding into dynamic business districts [6] - Since 2019, MINISO's product unit price and average transaction value have nearly doubled, reflecting growing consumer recognition [7] Global Expansion - In 2024, MINISO added 449 new stores globally in the first three quarters, with the U.S. leading in growth, reaching its 200th store [8] - MINISO's global footprint has expanded to 112 countries and regions, with global membership surpassing 100 million [9]

Core Viewpoint - MINISO Group Holding Limited Unsponsored ADR (MNSO) has experienced a decline in stock price and is under scrutiny for its upcoming earnings performance, with analysts adjusting estimates reflecting confidence in the company's potential [1][2][3]. Company Performance - MNSO closed at $22.84, down by 1.51% from the previous day, underperforming the S&P 500's loss of 1.46% [1]. - The stock has decreased by 3.62% over the past month, contrasting with the Retail-Wholesale sector's gain of 2.27% and the S&P 500's gain of 1.08% [1]. Analyst Estimates - Recent modifications to analyst estimates for MNSO are crucial, as positive revisions indicate confidence in the company's business performance and profit potential [3]. - The Zacks Consensus EPS estimate for MNSO has remained steady over the past month, and the company currently holds a Zacks Rank of 4 (Sell) [5]. Valuation Metrics - MNSO is trading with a Forward P/E ratio of 15.67, which is below the industry average Forward P/E of 16.32 [6]. - The company has a PEG ratio of 0.81, compared to the Retail-Apparel and Shoes industry's average PEG ratio of 1.52 [7]. Industry Context - The Retail-Apparel and Shoes industry, part of the Retail-Wholesale sector, holds a Zacks Industry Rank of 47, placing it in the top 19% of over 250 industries [7]. - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8].

Investment Rating - The report assigns a "Buy" rating for MINISO (09896.HK) as a first coverage [1]. Core Views - MINISO is positioned as a global leader in the trendy lifestyle retail sector, focusing on high-quality, cost-effective products for young consumers. The company has successfully expanded its presence with 7,186 stores across 111 countries as of September 30, 2024 [11][12]. - The report highlights the company's robust financial performance, with a compound annual growth rate (CAGR) of 22.35% in revenue from 2020 to 2023, and a significant recovery post-pandemic, achieving a revenue growth of 39.43% in 2023 [15][16]. - MINISO's strategic focus on IP (intellectual property) upgrades and global expansion is expected to drive future growth, with plans to increase store count significantly in high-consumption markets like North America and Europe [47][63]. Summary by Sections 1. Company Overview - MINISO is the largest private label retailer globally, established in 2009, targeting young consumers with a focus on trendy, affordable products. The company has developed two main brands: MINISO and TOPTOY [11][12]. - The company has a concentrated ownership structure, with the founders holding 62.5% of the shares, ensuring stable governance [21][23]. 2. Historical Success Factors - The company has successfully navigated the competitive retail landscape by focusing on essential consumer goods and maintaining a self-operated sales model, which enhances brand recognition [27][28]. - MINISO's product strategy emphasizes frequent new product launches and competitive pricing, supported by a strong supply chain [30][32]. 3. Future Growth Prospects - The company aims to enhance its IP strategy, with a target of over 50% of sales coming from IP-related products by 2028. Currently, IP products account for over 30% of total sales [48][49]. - MINISO plans to expand its global footprint, targeting an annual increase of 900-1,100 stores worldwide from 2024 to 2028, with a focus on high-value markets [72][63]. 4. Financial Forecast - The report forecasts MINISO's revenue to reach CNY 171.67 billion, CNY 207.55 billion, and CNY 241.04 billion for the years 2024, 2025, and 2026, respectively, with corresponding net profits of CNY 26.9 billion, CNY 33.5 billion, and CNY 40.8 billion [78]. - The company's valuation is projected to improve as it transitions from a channel retailer to a brand retailer, with a current price-to-earnings (P/E) ratio of 20.5, 16.5, and 13.5 for the years 2024, 2025, and 2026 [78][79].

Investment Rating - The report maintains a "Buy" rating for the company [7] Core Insights - The company is positioned as a global IP retail store, leveraging "IP + retail" to unlock overseas growth potential [1] - The emotional consumption era is on the rise, with the IP retail industry experiencing upward momentum [1] - The company has a strong competitive edge through efficient supply chain management, robust IP operation capabilities, and scale advantages [2] Summary by Sections Company Overview - The company, established in 2013, has developed a comprehensive supply chain system and is now a leading player in the domestic household goods retail sector [15] - The company operates two brands: MINISO, focusing on household goods, and TOP TOY, targeting the trendy toy market [20] Industry Analysis - The IP retail sector is in its growth phase, with significant potential for expansion as China's per capita IP retail consumption is only about 1/4 of the global average [34] - The emotional consumption trend is gaining traction, with increasing consumer interest in IP-related products [40] Competitive Advantages - The company excels in supply chain efficiency, IP operation capabilities, and has a significant scale advantage with over 7,186 stores globally [2][60] - The company has established partnerships with over 150 top IPs, enhancing its product offerings and market presence [60] Market Expectations - The report anticipates better-than-market expectations for same-store sales in both domestic and overseas markets, driven by refined IP operations and targeted product categories [3][66] - The company is expected to continue expanding its store network, particularly in overseas markets, which will support same-store sales growth [3][67] Financial Projections - Revenue forecasts for 2024-2026 are projected at 172 billion, 213 billion, and 256 billion respectively, with year-on-year growth rates of 24.3%, 23.9%, and 20.2% [5] - Adjusted net profit is expected to reach 28.0 billion, 35.8 billion, and 43.7 billion for the same period, reflecting growth rates of 19%, 28%, and 22% [5]

Group 1 - MINISO Group Holding Limited held an extraordinary general meeting (EGM) to seek shareholder approval for the proposed acquisition of shares of Yonghui Superstores Co., Ltd, and all proposed resolutions were adopted by shareholders [1][2] - The company expects to complete the acquisition after satisfying or waiving other closing conditions as per the relevant share purchase agreements [2] - MINISO is a global value retailer known for trendy lifestyle products featuring IP design, with a focus on quality, affordability, and aesthetically pleasing design [3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 MINISO Group Holding Limited 1 | | 普通決議案 | 投票數目及百分比(%) | | | --- | --- | --- | --- | | | | 贊成 | 反對 | | 3. | 謹此授權本公司任何董事就實施購股協議及其項下擬 | 901,476,566 | 242,324 | | | 進行的交易或使其生效對購股協議作出彼等認為必 | (99.973126%) | (0.026874%) | | | 要、適當或權宜的一切行動及事宜。 | | | 附註： 承董事會命 名創優品集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：9896） 於2025年1月17日舉行之 股東特別大會投票結果 茲提述名創優品集團控股有限公司（「本公司」）日期為2024年11月22日載列（其中 包括）本公司股東特別大會（「股東特別大會」）通告（「通告」）的通函（「通函」）。除 文義另 ...

Core Insights - The evolving consumption needs of young consumers are driving MINISO's strategy towards emotional satisfaction and self-expression through "interest-driven consumption" and the "super IP" strategy, collaborating with over 150 well-known IPs globally and achieving sales of more than 800 million IP products [1][3]. Group 1: Store Developments - MINISO Thailand's flagship store features over 20 IP collections, including Harry Potter and Disney, with immersive experience zones enhancing the shopping experience [2][3]. - The largest global store was opened in Jakarta, Indonesia, covering approximately 3,000 square meters with organized IP-themed experience zones [4]. - MINISO's largest store in Singapore at PLQ Mall offers over 5,000 SKUs, including popular IPs like Harry Potter and Pokémon, creating a unique shopping experience [4]. Group 2: Strategic Focus - MINISO's "super store" strategy has led to the establishment of high-impact locations and innovative retail formats across Southeast Asia, winning consumer approval [3][6]. - The brand is committed to expanding its presence in Southeast Asia through more high-impact stores and IP-themed pop-ups, enhancing consumer experiences [6]. Group 3: Unique Shopping Experiences - MINISO's IP-themed stores and pop-ups have attracted young consumers with distinctive themes, such as a Barbie-inspired store in Kuala Lumpur and a Harry Potter pop-up in Hong Kong [5]. - The opening of Vietnam's first Sanrio-themed store and Singapore's Loopy-themed store at Changi Airport has successfully integrated IP culture with retail environments [5]. Group 4: Company Overview - MINISO Group is a global value retailer known for trendy lifestyle products featuring IP design, focusing on a relaxing and engaging shopping experience [7]. - Since its first store opening in China in 2013, MINISO has built a globally recognized retail brand with a vast store network [7].

Disclosure - The analyst has no stock, option, or derivative positions in any mentioned companies and no plans to initiate such positions within the next 72 hours [1] - The article expresses the analyst's own opinions and is not receiving compensation other than from Seeking Alpha [1] - The analyst has no business relationship with any company whose stock is mentioned in the article [1] - Seeking Alpha's disclosure states that past performance is no guarantee of future results and no investment recommendations are being given [2] - Seeking Alpha is not a licensed securities dealer, broker, or US investment adviser or investment bank [2] - The analysts are third-party authors, including both professional and individual investors, who may not be licensed or certified by any institute or regulatory body [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 本公告僅供參考，並不擬及不構成在任何司法權區（無論在香港、美國或其他地方）購買或認購 本公司任何證券之要約或邀請或其一部分，亦不得在與適用法律相抵觸之情況下於任何司法權 區出售、發行或轉讓本公司之證券。有關證券並未亦將不會在香港或根據《1933年美國證券法》 登記，不得在並無登記或不獲豁免登記的情況下於香港或美國提呈發售或出售。於香港或美國 公開發售任何證券將以招股章程的形式進行，有關招股章程可向本公司獲取，且該招股章程將 載有有關本公司及管理層的詳細資料以及財務報表。本公司無意在香港或美國登記任何證券。 本公告的全部或部分內容不會在違反任何司法權區的適用法律或法規的情況下於、向或自該等 司法權區發佈、刊發或派發。 MINISO Group Holding Limited 名創優品集團控股有限公司 茲提述名創優品集團控股有限公司（「本公司」）日期為2025年1月7日之公告（「初 步公告」）。除文義另有界定 ...