US Stock Market Move | MNSO (MNSO.US) rose by 4%. Its subsidiary, trendy toy brand TOP TOY, plans to go public in Hong Kong.

On Thursday, MNSO (MNSO.US) rose 4% to $22.56. In terms of news, MNSO's trendy toy brand TOP TOY recently submitted its IPO prospectus to the Hong Kong Stock Exchange, planning to list on the main board in Hong Kong. The prospectus shows that TOP TOY's main business is the retail of trendy toy collections, with a projected GMV of around 2.4 billion yuan in mainland China by 2024. In addition, Huachuang Securities stated that MNSO's main business is showing signs of a turning point, with overseas markets and TOP TOY still in a high growth stage. However, Yonghui Superstores' drag on the company's profits is expected to mainly be reflected in 2025, with positive performance gradually contributing after 2026.