Golden Guard Financial News | china securities co.,ltd. released a research report, stating that miniso (09896) has successfully implemented a global layout of life-good collection stores. The company plans to become yonghui superstores' largest shareholder through an agreement transfer, entering the essential goods retail track. The company's management is bullish on the offline retail format, with a firm determination and resources to continue driving offline retail channel transformation and product strategy, creating a comprehensive offline scene that meets the needs of Chinese consumers for good quality at affordable prices, as well as a global IP strategy that will give the company a longer-term growth space.

The bank pointed out that miniso currently has cash and short-term investments of 6.5 billion RMB, with only a liability of over 6 million RMB, and the company's operating cash flow has been positive continuously, indicating sufficient strength to complete this acquisition. At the same time, the company has ample bank credit available to use, optimizing its capital structure through low-cost debt financing. Acquiring supermarket businesses that operate necessary products also helps the company diversify its cyclical business risks.

Considering that this acquisition is still in the early stages, its impact on the company's business and finance is temporarily excluded. The bank maintains profit forecasts at: 2.609, 3.171, 3.697 billion RMB, with corresponding PEs of 14, 12, 10, and maintains a "shareholding" rating.