上 市 公 司 商贸零售 2026 年 03 月 19 日 名创优品 (MNSO) ——业绩预告符合预期，同店 GMV 增速持续改善 报告原因：有业绩公布需要点评 一年内股价与基准指数对比走势： 资料来源：Bloomberg 相关研究 买入（维持） | 市场数据： | 2026 年 3 月 18 日 | | --- | --- | | 收盘价（美元） | 17.04 | | 纳斯达克指数 | 22152.42 | | 52 周最高/最低（美元） | 26.42/13.78 | | 美股市值（亿美元） | 52.8 | | 流通股（亿股） | 12.4 | | 汇率（美元/人民币） | 6.88 | 《名创优品（MNSO）点评：各业态同店持 续 改 善 ， 创 新 店 态 加 速 全 国 布 局 》 2025/11/26 《名创优品（MNSO）点评：国内同店恢复 正增长，大店 +IP 战 略 持 续 深 化 》 2025/08/22 证券分析师 赵令伊 A0230518100003 zhaoly2@swsresearch.com 联系人 张蕴达 A0230125030003 zhangyd@swsresearc ...

Core Insights - The 2026 Spring Festival Gala will feature a diverse range of corporate partners, reflecting the evolution of China's commercial landscape over the past four decades [1][8] - The event serves as a significant platform for brand recognition and influence, with a history of successful partnerships, particularly in the tech and consumer goods sectors [3][8] Company Partnerships - Eight listed companies have been confirmed as partners for the 2026 Spring Festival Gala, including three liquor companies, two automotive companies, two video platforms, and one toy company [3][8] - Wuliangye will be the exclusive interactive partner for the "Harmony and Goodness" segment, marking its fourth appearance at the gala [5][10] - Yanghe Dream Blue M6+ will serve as the exclusive timekeeping partner for the seventh consecutive year, while Gujing Gongjiu celebrates its 11th year of partnership [5][10] Automotive Collaborations - Huawei and JAC Motors have launched the Zun Jie S800, which will be the flagship partner for smart travel at the gala [4][9] - Great Wall Motors will again be the designated vehicle for new media coverage of the gala, featuring its flagship models [4][9] Technological Innovations - The 2026 gala will emphasize technological advancements, with partnerships from companies like Yushutech, Volcano Engine, and Galaxy General, focusing on robotics and AI [6][11] - Volcano Engine will engage in program production and online interaction, while Yushutech will showcase cutting-edge robotics technology [6][11] Cultural and Emotional Engagement - MINISO has partnered with the gala to launch a series of cultural toys, reflecting a shift from material to cultural consumption [6][11] - The collaboration aims to enhance emotional engagement and cultural relevance in consumer products [6][11]

2月4日，中央广播电视总台与名创优品（MINISO）联合宣布，MINISO与总台达成《2026年春节 联欢晚会》IP联名衍生品合作，MINISO成为总台春晚潮玩合作品牌。 作为本次合作的重要成果，总台春晚与MINISO联名推出的马年系列IP潮玩产品，于当日在MINISO 全国门店及线上平台同步发售。该系列以"马到成功，一切优优"为创作灵感，深度融合传统生肖文化与 潮流创意，为全国消费者献上一份兼具潮流属性与情感温度的春节贺礼。 作为业务覆盖全球超112个国家和地区的中国品牌，MINISO凭借超过8500家门店的广泛布局，构 建了以IP设计为核心的全球化产品开发体系。依托中国供应链的强大效能，品牌持续将蕴含中国创意的 潮流产品与全球消费趋势相融合，不仅为总台春晚注入了鲜活的潮流气息与创新动能，更在延续文化传 统深层脉络的同时，构筑起连接全球年轻消费者的情感通路。 "马优优搪胶毛绒"以盲盒形式呈现，共设计9款不同动态与配饰的造型，在保持IP辨识度的同时增 强收藏趣味，让传统年味以轻松互动的方式融入日常；系列还包含多款契合新年主题的周边产品，IP挂 件选取"好事花生""发财麻将""年年有鱼""万柿如意"四组吉祥主题 ...