Intelligent Finance APP learned that Zheshang Securities released a research report stating that considering the comprehensive layout of software and hardware facilities and internal growth-driven factors, it is expected that Xiamen Xiangyu (600057.SH) will have a net profit attributable to the parent company of 1.211 billion yuan, 1.435 billion yuan, and 1.683 billion yuan from 2020 to 2022, with year-on-year increases of 9.50%, 18.46%, and 17.35%, respectively, corresponding to EPS of 0.56 yuan, 0.66 yuan, and 0.78 yuan. From a growth perspective, the company's compound annual growth rate of net profit attributable to the parent company from 2020 to 2022 is 17.90%, and the PEG of the corresponding 2021E PE is 0.52, which is significantly lower than the valuation relative to the growth. Zheshang Securities believes that the reasonable valuation of the company is around 15 times PE, the reasonable market cap of the 2021 net profit attributable to the parent company is about 21.5 billion yuan, and the relative price still has about 58% room for growth. The first coverage is given a "buy" rating.$MNSO (09896.HK)$Up over 5%, as of the time of writing, up 5.04%, reported at 37.50 HKD, with a transaction volume of 94.0551 million HKD.

On the news front, on November 28, Wang Shoucheng, vice president of yonghui superstores and head of the national adjustment project, stated in an interview that next year, yonghui superstores plans to have over 100 self-adjustment stores. At the same time, discussions are underway with miniso to promote future cooperation in IP business (guzi economy).

Previously, Miniso announced plans to acquire 29.4% of Yonghui Superstores' shares for 6.27 billion yuan in cash; after the trade is completed, Miniso will become the largest shareholder of Yonghui Superstores. HTSC believes that Miniso will continue to focus on interest-based consumer products while creating IP products, and through shared business resources with Yonghui, it will enhance both parties' supply chain scale advantages and operational efficiency of channels. The impact of this acquisition on Miniso's profits needs to be continuously monitored, and the effectiveness of Yonghui Superstores' adjustments will need to be observed in the future.

Editor/ping