BEIJING, Dec. 02, 2025 (GLOBE NEWSWIRE) -- Here Group Limited (NASDAQ: HERE) (“Here” or the “Company”), a pop toy company dedicated to creating beloved collectibles and trend-defining experiences, today announced its unaudited financial results for the first quarter of the fiscal year ending June 30, 2026 (the “first quarter of FY 2026”, which refers to the quarter from July 1, 2025 to September 30, 2025). Financial and Operational Highlights for the First Quarter of FY 2026 The Company completed the dispos ...

Core Insights - Here Group Limited reported a total revenue of RMB 127.1 million (approximately US$ 17.9 million) for the first quarter of FY 2026, marking a significant growth of 93.3% quarter-over-quarter [3][4][39] - The company has transitioned to focus solely on the pop toy business following the disposal of its Established Business on September 30, 2025 [2][26] - The gross margin improved to 41.2% from 34.7% in the previous quarter, indicating the strength of the pop toy business model [3] Financial Performance - Revenue for the first quarter of FY 2026 was RMB 127.1 million (US$ 17.9 million), derived entirely from pop toy sales [4] - Cost of revenues was RMB 74.7 million (US$ 10.5 million), primarily related to the cost of goods sold in the pop toy segment [5] - The net loss from continuing operations was RMB 25.8 million (US$ 3.6 million), compared to RMB 21.8 million in the previous quarter [10] Expenses Breakdown - Sales and marketing expenses totaled RMB 27.6 million (US$ 3.9 million), aimed at enhancing brand visibility and market share [6] - Research and development expenses were RMB 15.8 million (US$ 2.2 million), focused on advancing the pop toy portfolio [7] - General and administrative expenses amounted to RMB 38.1 million (US$ 5.4 million), covering core operational functions [9] Future Outlook - The company anticipates revenues for the second quarter of FY 2026 to be between RMB 150.0 million and RMB 160.0 million, and for the full fiscal year 2026, revenues are expected to range from RMB 750.0 million to RMB 800.0 million [13] - The strategic focus on high-growth segments and IP development is expected to drive future growth and competitive advantage in the global pop toy market [3] Balance Sheet Highlights - As of September 30, 2025, the company had cash and cash equivalents, restricted cash, and short-term investments totaling RMB 789.4 million (US$ 110.9 million) [12] - Total assets were reported at RMB 1,661.5 million (US$ 203.1 million) [31] - Total liabilities stood at RMB 728.6 million (US$ 47.1 million) [32]

Core Viewpoint - QuantaSing Group Limited has filed its annual report on Form 20-F for the fiscal year ending June 30, 2025, with the SEC, highlighting its commitment to transparency and regulatory compliance [1]. Company Overview - QuantaSing, through its Here (奇梦岛) brand, focuses on creating collectible pop toys that resonate with global culture, emphasizing innovative design and storytelling [3]. - The company aims to build vibrant cultural ecosystems where fans can engage in co-creation and share their dreams, guided by values such as joy, integrity, and wonder [3]. Financial Reporting - The annual report includes audited consolidated financial statements and is available for shareholders and ADS holders upon request, demonstrating the company's commitment to providing detailed financial information [2].

Summary of Miniso (MNSO) Investor Meeting Company Overview - **Company**: Miniso (MNSO) - **Industry**: Retail, focusing on IP (Intellectual Property) products and lifestyle goods Key Points from the Meeting 1. Growth and Performance - Management expressed confidence in achieving solid topline growth and operational improvements, particularly in the US market, supporting margin performance for Q3 and the upcoming holiday season [1][8] - The company is on track for healthy and quality growth, with expectations for better performance than the previous year due to improved product planning and execution [8][9] 2. Strategic Focus Areas - **Self-owned IP Development**: Miniso aims to become a global leading IP platform, leveraging its supply chain and marketing strengths to attract IP artists [1][9] - **Store Strategy**: Transitioning from fragmented store openings to cluster openings to enhance brand awareness and marketing efficiency [6][8] - **Real Estate Strategy**: Focus on larger store formats (7,000 to 12,000 square feet) in high-traffic areas, with a target of 1,500 to 2,000 stores in the US market [8][9] 3. Market Positioning - Miniso's diversified product offering positions it as a one-stop shopping destination for families, with a mix of competitive IP goods and value products [8][9] - The company has a competitive advantage in product quality and affordability compared to local peers [8][9] 4. Operational Improvements - Implementation of a data-centric operation system has improved inventory turnover by 10% compared to the previous year [6][8] - Hiring local talents and building a data-driven labor model to enhance labor allocation and efficiency [6][8] 5. Financial Outlook - Management reiterated a commitment to sustainable same-store sales growth (SSSG) and expects to deliver better performance in Q4 due to well-planned products and marketing strategies [8][9] - The company is well-prepared for the second half of the year with inventory management strategies to mitigate tariff impacts [8][9] 6. Recent Developments - Miniso opened an IP Land store in Guangzhou, achieving monthly sales of RMB 7 million to 8 million with a payback period of only 3-4 months [9][10] - The company is considering channel upgrades in markets like Indonesia, where it entered earlier [10] Additional Insights - Management believes that 2/3 of Miniso's stores in China are worth upgrading to enhance brand equity and attract better rental terms [10] - The company is positioned to capture synergies with its Top Toy brand, which focuses on pop toys, while Miniso covers a broader category range [10] Investment Thesis - Miniso is rated as a "Buy" with a 12-month price target of $29 for ADR and HK$56 for H-share, reflecting a near-term growth outlook and potential for a 20% adjusted net income CAGR from 2024 to 2026 [15][16] Risks - Key risks include lower store productivity due to competition, geopolitical risks, and higher-than-expected operational expenses [15][16]

Core Viewpoint - QuantaSing Group Limited is set to release its unaudited financial results for the fourth fiscal quarter and the full fiscal year ended June 30, 2025, on September 17, 2025, before the U.S. market opens [1]. Group 1: Financial Results Announcement - The financial results will be discussed in an earnings conference call scheduled for 07:00 A.M. Eastern Time on September 17, 2025 [2]. - The call will be accessible via multiple toll-free numbers for international listeners, including specific numbers for the United States, Mainland China, and Hong Kong [2]. - A replay of the conference call will be available until September 24, 2025, with specific access codes provided [2]. Group 2: Company Overview - QuantaSing is recognized as a leading lifestyle solution provider, focusing on empowering adults to enhance their quality of life through various online and offline services [3]. - The company has diversified its portfolio by entering the pop toys sector and continues to seek opportunities in promising consumer sectors while adhering to financial discipline [3].

Investment Rating - The report maintains a "Buy" rating for Miniso, with a 12-month price target of $23.40 for ADR and HK$46.00 for H-share, indicating an upside potential of 27.9% and 33.1% respectively [14][17]. Core Insights - Management is confident in achieving revenue growth acceleration in 2025, targeting a year-over-year increase of 23% compared to 2024, with a focus on low teens percentage growth in Miniso China and around 40% growth in overseas markets [1][8]. - Despite expected margin pressure in the short term, management anticipates a return to positive operating profit growth by the third quarter of 2025, with a narrowing of margin contraction [1][2]. - The company plans to close 300-400 underperforming stores in China, with expectations of a return to net store count growth in the second half of 2025 [1][12]. Summary by Sections Financial Performance - For 2025, Miniso aims for revenue of Rmb20,554 million, with an operating profit (OP) target of Rmb3.6 billion to Rmb3.8 billion, compared to Rmb3.2 billion in the previous year [17]. - In 2Q25, management expects topline growth of 18%-21%, with specific growth rates of low teens for Miniso China and 25%-30% for overseas markets [8]. Market Strategy - The company is focusing on optimizing its product offerings in the US, with IP-related products making up 60-70% of sales, and plans to increase local sourcing to mitigate tariff impacts [12][15]. - Miniso's store expansion strategy includes targeting 80-100 net new store openings in 2025, with a significant portion being DTC stores [10][11]. Operational Efficiency - Management noted that logistics costs have declined, and there is potential for cost savings through improved store productivity and geographical concentration of store openings [10][12]. - The average payback period for new stores is reported to be 15-18 months, with daily sales averaging nearly Rmb10,000, significantly above the breakeven point [13].