According to the Securities Times app, Miniso (09896) is now up more than 6%, as of the time of publication, up by 4.83% to HK$39.05, with a turnover of 0.249 billion Hong Kong dollars.

GF Securities pointed out that it is expected that the third-quarter franchise business will exceed expectations to drive the performance of the China business beyond expectations. The overall group's Q3 performance is expected to meet expectations. The third-quarter gross margin is expected to continue to improve. The increase in direct operation ratio leads to an increase in expense ratio. It is expected that the OPM will improve on a quarter-on-quarter basis, but there is certain pressure on a year-on-year basis. In addition, the Harry Potter series will be launched worldwide at the end of October, expected to boost performance in both domestic and overseas stores, combined with the accelerated expansion of overseas stores in the earlier period, which is expected to cope with the peak season traffic. We believe that the fourth-quarter performance growth rate and profit performance are expected to improve.

CICC released a research report stating that it participated in the 2024 Global Brand Strategy Upgrade Achievement Conference held by Miniso and conducted a survey on the new Shanghai MINISO LAND store opened in October. The store's foot traffic is strong, and sales of Harry Potter IP are hot. CICC stated that the company is firmly developing two major directions: IP collaboration and brand internationalization. It maintains its earnings forecast of RMB 2.15 and RMB 2.59 per share for the company for this year and next year respectively; taking into account the fourth quarter entering the peak season to catalyze valuation improvement, it raised the H-share target price by 9% to HK$44.6.