Group 1: MINISO Performance - MINISO achieved revenue of 4.97 billion CNY in Q2 2025, a year-on-year increase of 23.1%, exceeding company guidance[7] - Adjusted net profit for Q2 2025 was 690 million CNY, up 10.6% year-on-year[7] - For H1 2025, MINISO's revenue reached 9.39 billion CNY, a 21.1% increase year-on-year, with adjusted net profit of 1.28 billion CNY, up 3.0%[7] Group 2: Store Expansion and Strategy - As of H1 2025, MINISO had 4,305 stores in China, a net decrease of 80 stores since the beginning of the year[8] - The company successfully opened the MINISO LAND flagship store in Shanghai, achieving over 100 million CNY in sales within 9 months[8] - Internationally, MINISO's revenue reached 3.53 billion CNY in H1 2025, a 29.4% increase year-on-year, with 3,307 overseas stores, net adding 189 stores[8] Group 3: Financial Metrics and Projections - MINISO's gross margin for H1 2025 was 44.3%, an increase of 0.6 percentage points year-on-year[10] - The company’s operating profit margin for H1 2025 was 16.5%, down 2.8 percentage points year-on-year, while adjusted net profit margin was 13.6%, down 2.4 percentage points[10] - The target price for MINISO is set at 58.23 HKD, reflecting a potential upside of 21.6% from the current price of 47.88 HKD[12] Group 4: Alibaba Performance - Alibaba's cloud service revenue grew by 2% year-on-year, driven by strong AI demand[18] - The company reported a net profit of 42.38 billion CNY in the latest quarter, up from 24 billion CNY year-on-year[18] - Alibaba's target price is set at 166.00 USD, with a buy rating based on projected revenues of 1,032.93 billion CNY for FY2026[19]