Key Takeaways:
Miniso Group Holding Ltd. (9896.HK) forecast its first-quarter net profit to surge by approximately 100% year-over-year, sending its shares up nearly 4% in Hong Kong.
"The company issued a positive profit alert at noon," according to a company announcement released on May 13.
The lifestyle retailer expects adjusted net profit for the quarter, which excludes foreign exchange impacts, to increase by 7% to 10% from the same period a year earlier. The announcement triggered a reversal in the stock, which had been down 0.72% in the morning session. Shares rose to a peak of HKD 28.84 before closing at HKD 28.72, a gain of 3.68% on turnover of HKD 61.3 million.
The strong preliminary results suggest Miniso's growth trajectory remains intact, driven by its global expansion and product strategy. The official first-quarter results will provide further detail on segment performance and operating margins.
The positive guidance may bolster investor confidence amid a competitive retail environment. Investors will look to the final earnings release for details on store expansion and performance in key overseas markets.
This article is for informational purposes only and does not constitute investment advice.
