Today, the overall trend of Hong Kong stocks continued to adjust, but Miniso (09896. HK) once again strengthened. As of publication, it rose 5.94% to HKD 43.75.
If we calculate the current performance, the cumulative increase of Miniso Hong Kong stocks in the past two days is close to 11.3%.
The US stock market of MINISO rose 9.89% last night to close at $21.89.
Miniso has recently continued to carry out repurchase activities. On January 3rd, approximately HKD 3.6603 million was invested to repurchase 94000 shares at a repurchase price of HKD 38.7962-39.0305 per share; On January 2nd, 258000 shares were repurchased at a cost of HKD 9.8926 million, with a repurchase price of HKD 37.6442 to HKD 38.8743 per share.
Recent business data has shown impressive performance
In addition to its strong performance in the US stock market and positive buyback, Miniso released its financial performance report for the first quarter of the 2024 fiscal year (as of September 30, 2023) on November 21, 2023, which was quite impressive. The company achieved a revenue of 3.791 billion yuan, a year-on-year increase of 36.7% and a month on month increase of 16.6%. Realized an operating profit of 788 million yuan, a year-on-year increase of 54.7% and a month on month increase of 14.2%. The adjusted net profit was 642 million yuan, a year-on-year increase of 53.8% and a month on month increase of 12.4%.
Looking at different regions, overseas revenue has increased significantly, with good growth in both domestic and foreign single store revenue. The revenue from overseas markets was 1.296 billion yuan, a year-on-year increase of 40.8%. Overseas revenue accounted for 34.2% of the total revenue, an increase of 1 pct compared to the same period last year. Mainly due to a year-on-year increase of 12.5% in the average number of overseas MINISO stores and a year-on-year increase of 25.1% in average single store revenue.
The stock price had previously experienced three consecutive declines
The stock price of Miniso suffered a sudden three consecutive declines from December 1st to 5th, with a cumulative decline of 24.12%.
Specifically, on December 5th, the stock price of Miniso plummeted at the opening, dropping more than 25% to the lowest point in nearly four months. As of the close, the stock price of MINISO closed at HKD 39.8 per share, a daily decline of 14.04%, and the total market value fell to HKD 50.29 billion.
In response to this, Miniso immediately stated that the company's various business operations were normal and smooth, and its financial situation was stable without any significant adverse changes. In addition, the company announced near the closing that its Chief Financial Officer and Vice President Zhang Jingjing, the General Manager and Vice President of Miniso's Overseas Agency Market Huang Zheng, and the General Manager and Vice President of Miniso's China Operations Yao Jianzheng plan to purchase several shares in the public market within the next month to demonstrate their firm confidence in the company's future prospects and long-term development.
How do institutions evaluate Miniso?
China Galaxy recently released a research report stating that it predicts that Miniso will achieve revenue of 14.763 billion yuan, 18.121 billion yuan, and 21.691 billion yuan respectively in 2024, 2025, and 2026, with a net profit of 2.452/30.20/3.614 billion yuan, covering for the first time and receiving a "recommended" rating.
China Galaxy is also looking at the layout of Miniso in overseas markets. It is believed that its current overseas expansion mainly focuses on the Asian and American markets, with a more high-end store layout, and the TOP TOY overseas layout plan is also steadily being planned; In addition, efforts will be made to improve the efficiency of single points at home and abroad, establish "super stores", and maximize the value of stores.