MNSO(US:MNSO) Haitong Securities International·2025-07-27 09:33Investment Rating - The report assigns an "Outperform" rating to multiple companies including Pop Mart, Anta Sports, Haidilao, and Miniso, while Budweiser APAC is rated "Neutral" [1]. Core Insights - The report highlights significant developments in the F&B, designer toys, and home appliance sectors, indicating a strong growth trajectory for companies like Pop Mart and Miniso, with Pop Mart aiming to become a world-class consumer brand [2][6]. - The report notes the performance of key companies, with Haidilao showing a weekly increase of 4.3%, while Nayuki and Green Tea Group experienced declines of 7.5% and 6.2% respectively [3][7]. Summary by Category F&B Sector - Haidilao's first premium store opened in Beijing, focusing on high-quality ingredients and a refined dining experience [2]. - The National Development and Reform Commission has allocated 69 billion yuan for consumer goods trade-in funds, boosting sales in the sector [2]. Designer Toys Sector - Pop Mart's production capacity has doubled, and the company is considering collaborations with major film studios [2]. - Miniso is launching a summer-themed flash store, showcasing limited edition products [2]. Home Appliance Sector - The report mentions the launch of JD's first self-service takeaway store, "Seven Fresh Kitchen," emphasizing fresh cooking without pre-prepared meals [2]. - DJI is entering the home appliance market with a new vacuum cleaner robot set to launch on August 26 [2].