Group 1 - The core viewpoint of the article highlights the positive market response to Miniso's stock, which saw an increase of over 4% during trading, with a current price of 38.38 HKD and a trading volume of 38.41 million HKD [1] - The release of "Zootopia 2" has significantly boosted its box office performance, surpassing 3 billion CNY in total revenue within 12 days of release, indicating strong consumer interest and engagement [1] - There are over 70 brands in China that have collaborated with "Zootopia 2," with a focus on the trendy toy sector, where companies like Pop Mart, Miniso, and 52TOYS are actively participating [1] Group 2 - Guotai Junan has revised its profit forecasts for Miniso, lowering the adjusted net profit estimates for 2025-2027 to 2.998 billion, 3.474 billion, and 4.179 billion CNY respectively, reflecting a slight decrease in expectations [1] - Despite the profit forecast adjustments, the company is experiencing improved operational data and store openings both domestically and internationally, with TOPTOY entering a high growth phase contributing to incremental revenue [1] - The valuation for Miniso is set at 18x PE for 2026, with a target market capitalization of 62.5 billion CNY, and the target price has been adjusted to 55.50 HKD, maintaining a "buy" rating [1]